We congratulate our client OPTIBET on its success. Skrastiņš & Dzenis team assisted OPTIBET in drafting the merger filing and obtaining the merger clearance from the Latvian Competition Council. As a result, OPTIBET will acquire 100% shares of FURORS which operates in the market under the brand “Klondaika”.
Already prior to the transaction, OPTIBET had a substantial market share in the Latvian online gambling market which significantly exceeded the ordinary thresholds for the assumed dominant market position. In the merger notification, our team ascertained the Competition Council that the respective merger and subsequent increase of OPTIBET’s market share will not impose any threats to competition in the gambling market. Our team performed well and as a result, the Competition Council decided to approve the transaction. Prior to this decision, the latest decision on the merger by the Competition Council concerning the gambling market was adopted in 2015.
OPTIBET is one of the most well-known brands in gambling services and a pioneer in online gambling services and responsible gaming tools in Latvia. Through its subsidiaries OPTIBET operates also in Estonia and Lithuania. Currently, OPTIBET and its daughter company Laimz provides a variety of interactive gambling services online, including providing services for gambling machines, betting, bingo, cards and dice games online, as well as accepts bets at 11 in-store betting points in different cities of Latvia.
Skrastiņš & Dzenis team was led by partner Verners Skrastiņš and included associates Evija Ābele and Daina Buķele.