LCKY Group buys RoyalCasino to expand in Denmark's regulated market
What's the deal? LCKY Group has agreed to acquire RoyalCasino, a Denmark-only online casino brand, to deepen its footprint in one of Europe's most tightly regulated gambling markets. The companies did not disclose the purchase price.
LCKY said the deal should lift group revenue by 18–20% on a pro-forma basis and boost EBITDA by 29–31%. RoyalCasino will join a portfolio that includes LuckyCasino, HappyCasino, FlaxCasino, Vera&John, and OneCasino.
Why now? Denmark's online casino market is growing fast. Gambling revenue hit DKK714M in August, up 25.1% year-on-year. The country's strict licensing regime and mature operator base make it attractive for groups chasing regulated, predictable earnings.
For LCKY, the acquisition increases its share of revenue from licensed markets — a strategic priority. "RoyalCasino brings both strong market presence and high-quality earnings in Denmark," said chief executive Richard Brown.
What could go wrong? The deal still requires regulatory approvals, with closing expected in the second half of 2026. Neither party disclosed financing terms, so the debt or dilution involved remains unclear.
Integration risk is also real. RoyalCasino chief executive Per Petersen acknowledged the sector's "high levels of innovation and competition," framing the merger as a way to combine local expertise with LCKY's international scale.
The signal: Consolidation in European iGaming continues to favour operators with regulated-market portfolios. Investors and regulators alike are pushing groups away from grey-market revenue toward licensed jurisdictions with transparent oversight. LCKY's bet on Denmark fits that trend — and the EBITDA bump suggests the economics of regulated markets can still be compelling.
Read more: igaming.org
