London—Dentons has advised City Loft LLC, the owner of Adjarabet, the market leader in online betting and gaming in the regulated market in Georgia, on Adjarabet’s £101 million acquisition by Paddy Power Betfair plc of an initial 51% controlling stake.

Adjarabet is licensed to offer a full suite of online betting and gaming products in Georgia including casino, sports, poker and peer-to-peer games. During 2017, the business also launched in the regulated Armenian online market.

David Collins, head of Dentons' UK Corporate practice who, together with Corporate partners Avto Svanidze in Georgia and Nicholas Plant in London, led on the deal, said, "This transaction highlights Dentons' cross border capabilities, with our teams in the UK and Georgia working closely to deliver a successful outcome for our client. It also highlights Dentons' strength in the gaming sector, a market which is continuing to evolve and consolidate globally."

Alongside David Collins, Avto Svanidze and Nicholas Plant, the Dentons team also included Corporate associate Lucy Conway in London and senior associate Irakli Pipia in Tbilisi.