Swedish online gambling operator Mr Green has planted its flag in Latvia’s market while rebranding itself as MRG.

On Wednesday, Mr Green announced that it had inked a deal to acquire 75% of the shares of Latvian-facing online gambling operator 11.lv, which holds local licenses for betting, casino and live casino gaming. Mr Green says it will pay €2.8m for this stake, with the remaining 25% to be held by 11.lv’s two founders.

Mr Green described 11.v as Latvia’s third-largest iGaming operator, generating revenue of €944k in Q1, up 44% year-on-year, while earnings came in at €162k. The operator has 15 employees at its offices in Latvia’s capital, Riga.

Mr Green CEO Per Norman said 11.lv has “strong brand recognition in Latvia and will be the base for our expansion in the Baltics.” The first step in this expansion will be to launch the Mr Green brand in Lativa in conjunction with 11.lv, which will give the company “a broad attractive offering for the Baltic markets.”