LCKY Group Completes Acquisition of RoyalCasino, Adding Three Danish Casino Brands

LCKY Group, the Malta-based iGaming operator that traded as Glitnor Group until its 2026 rebrand, has completed its acquisition of RoyalCasino, one of the largest online casino operators in Denmark. The group confirmed the deal in a release on its newsroom: the agreement was signed earlier in the year, the acquisition completed in August after passing all required approvals, and the two businesses are already well into their integration plan.

RoyalCasino joins a portfolio that already includes LuckyCasino, HappyCasino, FlaxCasino, Vera&John and OneCasino, together with the games studio Swintt. LCKY now lists two more Danish brands next to it, KapowCasino and ValhallaCasino.

Forecast lift in group revenue

18-20%

Forecast lift in group EBITDA

29-31%

Danish casino brands added

3

Scale in one of Europe’s most established regulated markets

RoyalCasino operates exclusively in Denmark, where LCKY says it has “a strong and defensible market position”. When the deal was first announced, LCKY described it as immediately accretive and gave the numbers that matter: an estimated 18-20% increase in group revenue and a 29-31% increase in EBITDA. EBITDA growing faster than revenue fits the operating leverage LCKY says the extra scale brings.

LCKY operates in Sweden, the Netherlands, Spain, Ontario and Denmark. The deal backs its multi-brand strategy, which the group says gives it room to optimise brand positioning in the Danish market, and it also gives RoyalCasino a route to launch its brands in other markets.

A Danish brand with more than 35 years behind it

The RoyalCasino name goes back to 1991, when Royal Casino Aarhus first opened its doors, making it one of Denmark’s first casinos. The online casino followed in 2016, licensed by the Danish Gambling Authority (Spillemyndigheden) from 1 May that year. RoyalCasino.dk is operated by RoyalCasino.com Ltd from Malta, with an operational office in Copenhagen, and offers close to 5,000 slots alongside live roulette and blackjack.

The brands also bring a responsible-gambling profile that fits LCKY’s regulated-only strategy. RoyalCasino.dk has raised its minimum age for new players to 21 and in 2019 co-founded Spilbranchens Adfærdskodeks, the Danish industry code of conduct. ValhallaCasino also enforces a minimum age of 21 and uses an automated responsible-gaming scanner.

Integration already under way

LCKY says the two companies are “already making strong progress” with post-merger integration and are realising several of the benefits of combining. In an interview on the group’s M&A strategy, Head of Commercial Juan Lacroix described how it integrates acquisitions: centralise the commercial layer (supplier agreements, payments and distribution, which move onto group terms) and leave the brand layer, the identity and local team, alone. That is the model RoyalCasino’s three brands now move into.

1. 2026Glitnor Group becomes LCKY Group, describing the new identity as a platform for growth in regulated markets.
2. Earlier in 2026LCKY Group agrees to acquire RoyalCasino, with closing expected in the second half of the year.
3. August 2026The acquisition completes after all required approvals, and integration begins.
4. October 2026LCKY Group announces completion and adds RoyalCasino to its brand portfolio.

What it shows about online casino M&A

LCKY is following a clear pattern: buy established, licensed brands in regulated markets and plug them into group-level supplier and payment terms. In its own rebrand Q&A the group said it is focused on “entering as many regulated markets as possible”. RoyalCasino follows the acquisition of OneCasino, which LCKY says extended its reach in regulated markets.

The same logic is driving other gambling deals on our desk, from GiG’s purchase of 888AFRICA to Matchbook’s merger with Betdaq: licences, local players and earnings on day one. For owners of licensed casino brands, the takeaway is simple: a business that can lift a buyer’s EBITDA faster than its revenue is exactly what consolidators are paying for. Acquiry tracks the buyers behind these deals; if you run a gambling business, talk to us.