Dentons’ corporate team led by Avto Svanidze, David Collins and Nicholas Plant advises on acquisition of leading Georgian online betting and gaming operator Adjarabet by Paddy Power Betfair.
Dentons has advised City Loft LLC, the owner of Adjarabet, the market leader in online betting and gaming in the regulated market in Georgia, on Adjarabet’s EUR 206million acquisition by Paddy Power Betfair plc of an initial 51% controlling stake.
Adjarabet is licensed to offer a full suite of online betting and gaming products in Georgia including casino, sports, poker and peer-to-peer games. During 2017, the business also launched in the regulated Armenian online market.
Avto Svanidze, head of the Tbilisi corporate team commented: “Dentons is proud to have been part of the advising team. Taking the overall size of the transaction this was likely one of, if not the largest ever Georgian M&A transaction.”
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