Renowned Norwegian online gambling company Playsafe Holding AS changes strategy to focus primarily on gaming software development. Playsafe opted to sell its operating assets to Julian International Holdings Ltd, a Seychelloise investment company.
Playsafe owned several established online casinos in Norway, its portfolio also featured various internationally acclaimed online gambling destinations including Action Poker. All operational assets will be transferred to Julian Ltd for an undisclosed fee including an upfront payment and 3-year balance payments.
Playsafe will now focus its efforts on developing online gaming software and B2B delivery platforms for online poker sites in Norway and worldwide. The new strategy will also include taking advantage of new opportunities and joint ventures in open or soon-to-be liberalized markets.
Under the terms of the agreement, Action Poker brand and clients will be transferred to Julian International proprietary brands and a newly created poker network operating under Norwegian gambling laws.
The move will allow Playsafe to maximize its presence on various European regulated markets. Through B2B partnerships, the company plans to establish its brand as one of the most recognized in online gambling software and solutions industry.
Playsafe Chief Executive Officer, Atle Johansen, told Norway gambling news: “We are excited about this new strategy for Playsafe which will now concentrate on its core strengths of developing the products for the B2B business sector based on our proprietary software. In addition, the sale allows the company to focus on developing the Action Poker brands for new markets.”