B90 Holdings, an operator and affiliate, has successfully raised £2m ($2.5m) through the placement and subscription of 36,731,551 new ordinary shares. These funds will be allocated to three key areas of the business.
Over £1.1m will be dedicated to investing in opportunities for inorganic growth, such as mergers, acquisitions, and partnerships.
£0.4m will be directed towards B90’s own assets, which may include its sports betting brands Bet90, Spinbookie, and Oddsen.nu.
The remaining £0.5m will be utilized for general working capital and to cover the expenses incurred during the fundraising process.
B90 successfully completes acquisition of Emwys AB, a Swedish online gambling marketing company. With this strategic move, B90 aims to expand its business operations and tap into new revenue streams. The acquisition is a significant milestone in B90’s M&A strategy of ‘buy and build’. The settlement has been finalized with €1.25m in cash and 25,271,203 ordinary shares.