Netherlands-based casinos operator JVH Gaming, a Waterland Private Equity portfolio company, has bolted-on industry peer Flamingo Casino.
Founded in 1958, JVH is one of the largest gaming machine operators in the Netherlands, owning both Jack's Casino and Flash Casino. With the acquisition of Flamingo, JHV will now operate 81 casino branches.
A source familiar with the situation disclosed the gross gaming revenue of JVH amounted to €160m in 2017.
Waterland acquired JVH in 2008, alongside management. The transaction was designed to completely free the business of its senior debt burden, Unquote reported in 2008. The company was facing difficulties at the time, due to increasing tax for slot machine operators and the smoking ban driving customers away.
Founded in 1971, Flamingo operates 15 casinos in the Netherlands and employs 200 staff. The turnover of Flamingo amounted to €25m last year, Unquote understands. The business is headquartered in Zwaag.
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