rian sportsbetting company Cashpoint has announced the acquisition of the Danish operating assets of German sportsbook operator Tipico.

The deal will see the transfer of three betting shops in the Copenhagen area and a fourth in Odense, on the island of Fünen, with all existing Tipico shop branding being replaced. The group have confirmed that all 22 existing employees will be retained.

German gaming group Gauselmann acquired a controlling stake in Cashpoint in 2005, before fully integrating the business into its group of companies in 2014. The firm currently operates over 5,000 retail outlets including betting shops, ‘shop-in-shops’, kiosks and self-service betting terminals in pubs, clubs and restaurants.

In a statement announcing the deal, Niko Steinkrauß, Managing Director of Merkur Sportwetten GmbH Gauselmann Group said: "The acquisition is an important part of our expansion strategy in Denmark. Similar to the Austrian and German markets, we want to build up our Danish business model on the two strands of the self-employed sportswetten shops and the franchise-run shops and kiosk locations.

"The transaction of Tipico's sports betting activities into the business structures of Cashpoint ran smoothly. Within a few days, the new cashpoint stores opened."

Cashpoint has been particularly successful in the Danish market, recently reported a 30% organic growth for the first six months of 2017 as compared to the same period of the previous year.

According to the latest figures released by the operator, its betting volume in the Nordic countries (Sweden, Denmark, Norway, Finland and Iceland) totalled €100m for the first half of 2017.