Mr Green, the Scandinavian based online casino group, has ventured into the Italian gambling market through the purchase of Mybet Italia srl.
The deal was announced last week, in a bid to allow Mr Green to launch into the regulated Italian market - the second largest in Europe.
The Aktie Torget listed group now has to receive approval from the Italian gambling regulator, AAMS before it can finalize the deal, although it is not thought that this will be a problem.
Under the terms of the new deal, Mr Green will purchase the operations of MyBet Italia using existing cash assets.
The chief executive officer of MyBet Italia will focus the group's efforts on launching Mr Green's brand in the Italian market, including the contribution of local knowledge.
Exciting Opportunity for Mr Green
The CEO of Mr Green, Mikael Pawlo said that the acquisition of MrBet Itali presented "an exciting opportunity to enter the Italian market."
"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," he added. "While this will entail lower risk and greater marketing opportunities, it will also mean that license costs will vary according to the market."
While the purchase of the Italian based group is expected to be financially viable for Mr Green in the long run, analysts believe that it will not make a positive contribution to earnings this year.
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