The agreement consists of a payment for the assets related to TivoliCasino.dk, as well as an integrated part where Tivoli over the next 10 years will receive royalties from Danske Spil for the use of the brand TivoliCasino.dk. The agreement has a duration of 10 years with an option to extend if both parties find it desirable.
“In 2012 Tivoli established the online casino site TivoliCasino.dk, which quickly gained market share in a growing online casino market. It was a natural step for Tivoli to enter into this industry, as the Tivoli Gardens have offered games within its physical settings for more than 100 years. With Danske Spil, Tivoli has found a strong partner which shares our values, and possesses the qualifications needed to grow the brand further in a highly competitive market. We are convinced that the combination of Tivoli’s brand and Danske Spil’s commercial skills, will secure the continued growth of TivoliCasino.dk”, says CEO, Lars Liebst.
As an effect of the agreement the Tivoli A/S result before tax and extraordinary items is adjusted from the level of DKK 100 million to the level of DKK 220 million before tax and after extraordinary items.