On September 25, the Belgian company Gaming1 announced the acquisition of all shares of Pac-Man NV, the parent company of the Carousel group. The transaction amount was not disclosed. Headquartered in Liege, this company is not playing small—it directly secured a license, plus a ready-made digital operation.
Gaming1 and Carousel are no strangers. The two have been working together since 2012, which adds up to fourteen years. This acquisition brings Pac-Man NV's Belgian license and online operations in-house, and Gaming1's footprint in the domestic entertainment venue market has clearly expanded.
Belgium is a mature regulated market where license approval is slow and there are many rules and restrictions. Gaming1 did not take the old path of building a platform solution from scratch and applying for a license. Instead, it directly acquired a licensed entity, putting the license, existing users, and brand in place all at once. COO Sylvain Boniver put it plainly: this acquisition will strengthen the company's digital presence in Belgium and give players a more enjoyable and safer experience.
The numbers tell the story. Among the brands Gaming1 operates is 777, which according to Blask data is Belgium's fifth-largest online entertainment venue brand. The seller is no small player either—the Dutch company 711 ranks sixth by traffic in the Dutch online market and is backed by the De Backer family. 711 sold Carousel to free up capacity for its own internationalization. It has already established itself in Belgium and has also set foot in Malta.
This news is worth noting for anyone evaluating a platform solution: the entry path is not limited to building from scratch. Some choose a white-label solution for speed, while others directly buy a licensed entity and acquire the license and existing users in one go. In mature markets, the license itself is a scarce asset, and the time saved compared with applying from zero may be measured in years. Of course, acquisitions also have thresholds—due diligence, integration, data migration, and cultural alignment are all indispensable.
Whether to include acquisitions in your entry options depends on your budget and risk appetite. If you are unsure, you can contact us and break down the cost and timeline of the three paths—building from scratch, applying, and acquiring—one by one.