Danske Licens Spil, which is owned by Danske Spil, has announced that it will be selling its 60% stake in the Swush fantasy sports platform to the Danish tabloid newspaper, Ekstra Bladet. The acquisition is expected to be approved at the Danske Spil general meeting, with Ekstra Bladet set to officially take ownership of Swush on 31 January. However, the purchase price for the deal has not been disclosed.
Swush.com, the company behind the fantasy sports platform, also operates the sports management games provider, Holdet.dk. Co-founders of Swush.com, Jesper Carstensen and Ole Christensen, will retain a 40% stake in the business, in addition to the 60% holding previously owned by Danske Spil.
Following the acquisition, Holdet.dk will continue to operate independently under Ekstra Bladet. With over 200,000 users across Denmark, the platform has seen significant success since its launch in 2009.
Both Christensen and Carstensen expressed their pride in the growth of Holdet.dk and their excitement to work alongside Ekstra Bladet in expanding its reach. Ekstra Bladet’s commercial director, Signe Skarequist, also welcomed the new partnership and emphasized the potential for further development of Holdet.dk.
Meanwhile, Dankse Spil’s CEO, Nikolas Lyhne-Knudsen, praised the success of Swush during the eight-and-a-half years that the company held its ownership stake. He expressed his satisfaction in finding a new home for Holdet.dk under Ekstra Bladet and looked forward to seeing its continued growth.
In its Q3 results, Dankse Spil also highlighted the success of Swush, with a 10.0% increase in revenue to DKK11.0m. This contributed to an overall 2.4% rise in group revenue for Dankse Spil, driven primarily by increases in revenue from Danske Lotteri Spil, while revenue from other sectors saw some decline.