Mr Green to acquire DSRPTV and Social Holdings subsidiaries

17 April 2014

Scandinavian online casino operator Mr Green has exercised options to acquire its DSRPTV Gaming Ventures and Social Holdings subsidiaries.

Operating through its Green Gaming Group subsidiary, Mr Green is to acquire all shares in DSRPTV, owner of mobile casino Garbo.com, and has also agreed to purchase all outstanding shares in social casino developer Social Holdings.

Via Green Gaming Group, the operator will pay €500,000 ($691,998) for DSRPTV Gaming Ventures, which recently launched a female-focused mobile casino product via the Garbo.com brand.

Mr Green had an option to acquire the company under an existing agreement and has now opted to go ahead with the deal.

Mikael Pawlo, chief executive officer of Mr Green, own 78.9% of shares in DSRPTV. The company may pay an additional purchase consideration to minority shareholders holding 21% of shares, but Pawlo is not entitled to an additional purchase consideration.

Green Gaming Group already owned 41.85% of the shares in Social Holdings.

The purchase consideration for the remaining 58.15% of shares amounts to a maximum of around €1.8 million, including an additional purchase consideration.

The initial payment will total approximately €241,592.

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