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TGS Baltic advised shareholders of gaming operator UAB Lošimų strateginė grupė, which operates under TonyBet brand name, on the sale of the company to Nordic gambling operator Betsson AB.
TonyBet is an international online gaming company providing sports betting, live betting and live gaming services. Company was founded in 2009 by world famous poker pro, businessman and politician Antanas Guoga. TonyBet is the second largest online gambling and gaming operator in Lithuania with annual turnover of 8,7 million EUR in 2015.
Betsson AB is one of the world’s largest online gambling and gaming groups, which has been providing gaming entertainment for over 50 years. Acquisition of TonyBet in Lithuania, completed the group's geographical coverage and availability of services in the region.
TGS Baltic provided full transaction support in this particularly complex deal, which, due to the geography of the parties involved several jurisdictions, including, Lithuania, Malta, Sweden and UK. The transaction, in addition to matters related to the sale of shares, was also heavily centred on IP licensing, software development and servicing, regulatory, employment and other industry specific issues, which had to be addressed by our team during the transaction.
TGS Baltic provided legal services throughout the process and participated in drafting of and assisted in negotiations on all the necessary transaction documentation relevant to the completion of the project. The team was led by Marius Matonis, Partner, Aurimas Pauliukevičius, Senior Associate, and Andrius Voska, Associate
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