Mr Green is to enter the Italian market after agreeing to acquire fellow online operator MyBet Italia.
The Stockholm-listed online casino announced that the takeover had been agreed , with the deal now subject to approval from Italian gaming regulator AAMS.
Mr Green’s online casino is expected to launch in Italy in the second quarter of 2015, with its chief executive Mikael Pawlo citing the opportunity to enter a new market as a reason for the acquisition.
Pawlo added: “It is the group’s strategy to conduct operations in several regulated markets and to strive to increase the portfolio’s share of revenue from regulated markets to significant levels over the next few years.
“While this will entail lower risk and greater marketing opportunities, it will also mean that licence costs will vary according to the market.”
The acquisition will be financed through existing cash assets and investors have been informed that it will not appreciably impact on company liquidity.
MyBet Italia management, who executed a management buy-out of the company from its German parent company in September last year, will remain with the firm.