Sorainen has advised Stockholm-listed gaming operator MRG on the acquisition of a majority stake in Latvia-licensed operator, 11.lv.
MRG, already present on twelve markets, will acquire a 75 percent stake in 11.lv., which is one of the largest sportsbook-focused gaming operators in Latvia and holds betting, casino, and live casino licenses.
According to Per Norman, CEO of MRG, "the acquisition of 11.lv is a major step in MRG's strategy to expand into locally regulated markets. MRG foresees excellent growth opportunities for their strong Mr Green and Redbet brands also in the Baltics.”
The Sorainen team included Managing Partner Eva Berlaus and Associate Liva Aleksejeva.
Editor's Note: After this article was published Fort Legal announced that it had advised a shareholder of 11.lv in the sale of its 75% shareholding to MRG. The Fort team consisted of Associated Partner Ramona Miglane and Senior Associate Edgars Turlajs.