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Gaming1 Acquires Carousel Group: A Strategic Move in Belgium’s Online Casino Landscape

By jili tutorial · September 26, 2026

Gaming1 Acquires Carousel Group: A Strategic Move in Belgium’s Online Casino Landscape

Overview of the Deal

Belgian betting and gaming operator Gaming1 has reached an agreement to acquire the holding company behind Carousel Group, a long-time partner in the country’s regulated online casino market. The transaction involves a full purchase of shares in Pac-Man NV—the entity that controls Carousel Group—for an undisclosed sum. This move consolidates Gaming1’s position in Belgium and follows a partnership that began in 2012 between the two companies.

Once the acquisition is finalized, Gaming1 will take over Pac-Man NV’s Belgian operating licence and all its digital operations in the country. This will substantially broaden the company’s footprint in the Belgian online casino sector, though the expansion arrives during a period of challenging regulatory changes in the nation.

Key Facts at a Glance

AspectDetail
BuyerGaming1 (headquartered in Liège, Belgium)
TargetPac-Man NV, owner of Carousel Group
Acquisition type100% share purchase
PriceUndisclosed
Employees affectedNone—no staff transfer between companies
Regulatory contextBelgium undergoing difficult regulatory adjustments
Integration startImminent, expected to be “smooth and effective”

Background: A Decade-Long Partnership

The relationship between Gaming1 and Carousel Group stretches back over a decade. Since 2012, the two companies have collaborated in Belgium’s regulated gaming market, sharing expertise and operational synergies. This long-term arrangement likely paved the way for the acquisition, as both sides already knew each other’s systems, compliance frameworks, and market approaches.

Why This Deal Matters for Gaming1

Gaming1 operates 777, which ranks as the fifth-largest online casino brand in Belgium by web traffic, according to the Blask Index. By acquiring Carousel Group’s licence and digital assets, Gaming1 gains access to additional player bases, technology, and market share. The combined entity will be better positioned to compete with other major players in a market that is both lucrative and tightly regulated.

The company’s Chief Operating Officer, Sylvain Boniver, emphasized the strategic rationale: “We believe this acquisition will further strengthen our digital presence in Belgium and enhance the fun and engaging entertainment experience we offer our players. It will also support our ambition to provide a safe, responsible and distinctive offering in the regulated Belgian market.”

The sale marks a significant shift for Carousel Group and its ultimate owner. Pac-Man NV is owned by the De Backer family, a prominent Dutch business dynasty that also controls 711, one of the leading gaming firms in the Netherlands. According to the Blask Index, 711 ranks as the sixth-largest online casino brand in the Netherlands by traffic.

711’s International Expansion Plans

As reported by Dutch gaming news site Casino Nieuws, 711 is actively pursuing international growth. The group already has a presence in Belgium and has been building a foothold in Malta, a key hub for global iGaming operations. Divesting Carousel Group allows 711 to focus resources on its cross-border expansion while retaining its core Dutch market strength.

For the De Backer family, this sale simplifies their corporate structure: they no longer manage two separate Belgian-facing brands (Carousel Group and 777, via Gaming1) but can instead concentrate on 711’s journey into new jurisdictions.

Regulatory Challenges in Belgium

The acquisition comes at a time when Belgium’s gambling regulation is in flux. The Belgian Gaming Commission has been tightening rules in recent years, including:

Operating in such an environment requires deep local knowledge and compliance resources. Gaming1 already holds a Belgian licence and is accustomed to the regulatory landscape. Acquiring Carousel Group’s licence adds another layer of operational capacity without disrupting existing compliance structures—provided integration is executed carefully.

Integration Strategy: Smooth and Employee-Free

One notable aspect of the deal is that no employees will transfer between Gaming1 and Pac-Man NV. This simplifies the integration process significantly. There are no redundancies, relocations, or cultural alignment challenges. Gaming1 stated that the transition will begin “imminently” and that it expects a “smooth and effective integration.”

This approach likely reflects an asset-and-licence acquisition rather than a full business combination. Gaming1 will absorb the digital operations (technology platforms, customer databases, brand assets) while leaving the staff and corporate structures of Carousel Group unchanged.

Implications for the Belgian Online Casino Market

The merger of Gaming1 and Carousel Group consolidates market power. With 777 already a top-five brand and Carousel Group’s own portfolio, the combined entity becomes a stronger competitor against other operators such as Ladbrokes Belgium, Bwin, and Unibet. Players may see cross-brand offerings, loyalty programmes, and shared responsible gaming tools.

At the same time, the deal signals that the Belgian online casino space is still attractive despite regulatory headwinds. Major players are willing to invest in acquisitions to secure licences and market share, anticipating long-term profitability.

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