Greentube has continued with its European expansion push through the acquisition of Kingsbet CZ in the Czech Republic.
Subject to regulatory approvals, the developer will take full control of the online sportsbook and casino operator, securing its debut in the Czech Republic’s B2C gaming market.
David Vaněk, CEO of Kingsbet, commented: “We are excited to join the Greentube group. This partnership brings us growth and investment opportunities, and access to advanced technology and globally renowned game studios. It will allow us to deliver an even stronger player experience and continue growing in the Czech Republic.”
As a result of the acquisition, Greentube said that it is seeking to harness Kingsbet’s knowledge to grow in a market that is estimated to be worth over €2.7bn.
Kingsbet was founded in 2023 and began operating in the Czech Republic a year later. It was one of the first operators to secure approval under the country’s updated regulatory framework in 2024.
Given the brand is still in its early stages, it is seeking to compete with more established operators such as Tipsort, Fortuna and Sazka.
Through the acquisition, Greentube is also seeking to build on its B2B presence in the Czech Republic, where it has been supplying games to the likes of Kingsbet for a significant number of years.
Ronald van den Brink, CCO of Greentube, added: “Entering the Czech market is a natural step in our long-term growth strategy. The Czech Republic stands among the most advanced and well-regulated gaming markets in Europe. By joining forces with Kingsbet, we are gaining a strong local team that will support our expansion.”
This is not the first time that Greentube has taken a step into the B2C market.
In the UK, Greentube operates the Admiral Casino brand, while it also owns StarGames in Germany. Meanwhile, Novomatic, the parent company of Greentube, has extensive experience running online and retail-based gaming operators.
