Sega Sammy Holdings has reached an agreement to acquire Stakelogic, an Eindhoven, Netherlands-based online gambling company. The move will set Sega back around $141 million, thus being one of the largest M&A deals in its history.
Stakelogic runs a B2B-oriented online gambling platform, essentially offering a backbone for a variety of digital casinos. Since its founding in 2014, the Dutch company has expanded to over 20 markets and currently employs more than 550 staffers across seven offices.
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Sega has now opted to acquire Stakelogic, having confirmed as much in a July 26 notice to investors. The Japanese gaming giant characterized the deal as part of an ongoing effort to bolster its gambling operations. While Sega already runs a successful pachinko business, that branch of the company is predominantly domestic and non-digital. In contrast, the Stakelogic deal is meant to help it capture a share of the lucrative sports betting and online casino market in the United States, which is currently estimated to generate $16.5 billion in annual revenue.
That valuation...