Stockholm-based online gambling operator Mr Green is preparing to make a Danish market splash via the acquisition of Dansk Underholdning.

On Monday, Mr Green announced that it had acquired all of the shares of Danish-licensed online operator Dansk Underholdning, whose primary business involves casino games, ahead of Mr Green’s plans to launch its own brand in Denmark later this year.

The deal calls for Mr Green to pay €9m upfront, with a possible additional maximum consideration of €650k payable depending on certain performance benchmarks. Pending regulatory approval, the deal is expected to close in April.

Mr Green says it paid cash for the acquisition, and as such the company’s board of directors will recommend that no dividend be paid to shareholders for the 2016 financial year. The board expects the Dansk Underholdning acquisition will have a positive effect on 2017’s earnings and cash flow.