PolarLotto absorbs competitor via More Tech Group acquisition
The Swedish lottery provider has acquired lottoexperten.se as part of the deal.
Key points:
– PolarLotto has acquired More Tech Group
– This acquisition sees the lottery absorb its competitor, lottoexperten.se
Swedish lottery services provider PolarLotto has officially acquired More Tech Group Ltd, taking over its competitor lottoexperten.se as part of the new deal which seeks to strength its market position.
The acquisition sees PolarLotto now set to take over all of its rival’s operations, with the two companies’ combined customer base now reaching 85,000 players. The move comes as PolarLotto looks to further strengthen its market position within the Swedish landscape, after announcing a new partnership agreement with FC Stockholm back in March 2024.
Also in March, PolarLotto partnered with Fast Track to introduce online gambling options, as it has sought to diversify its player’s wagering offerings over the course of 2024.
Speaking on this latest deal, Daniel Bessmert, CEO of Polar Group Technologies AB, said: “This acquisition is an important step in our development and continued growth. We are proud to combine the best of both companies to create even more value for our customers and partners.”
Good to know: Earlier in Q3 2024, the Swedish Trade Association for Online Gambling (BOS) expressed support of a recommended review of the nation’s Gambling Act
There has been a fair amount of regulatory movement in the Swedish market of late as, last month, the BOS also launched a handful of new initiatives that look to strengthen AML efforts in the nation – including the introduction of an anti-money laundering checklist.
Further, towards the end of October, the BOS also expressed support of the nation’s proposed signing of the Macolin Convention – despite calling for private gambling companies to be included in key conversations.
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