The betting and gaming group will purchase 100% of Napoleon shares from Waterland Private Equity Investments. Napoleon has been owned by Waterland for the past six years.

The acquisition adds momentum to Superbet’s long-term business objectives, enabling the group to accelerate online business development.

“Napoleon’s core market and brand positioning in Belgium represents the ideal acquisition opportunity to deliver on our global expansion plan,” said Superbet Group CEO Johnny Hartnett.

“It also delivers on our growth strategy of bringing in additional revenues from regulated markets with a strong online profile. Additionally, we’re looking forward to welcoming a hugely experienced and talented team to the Superbet family, who we believe are exceptionally well placed to deliver on market share gains in Belgium and beyond.”

Superbet, which attracted a €175m ($206.5m) minority investment from Blackstone Group in 2019, expanded its reach in the online gaming segment last year with the acquisition of a 60% stake in online casino operator Lucky7.

Napoleon Sports & Casino CEO Tim de Borle commented: “We are very excited to be joining Superbet Group on a mission to offer the best sports and gaming entertainment to millions of users. 

“At Napoleon, we look forward to embarking on this next chapter of thrilling projects and international experience. Finally, I’d like to express our gratitude to Waterland for their support in the past 6 years.”