14 Years of Partnership. 100% Ownership. Gaming1 Acquires Pac-Man NV to Strengthen Its Belgian Footprint
Gaming1 has acquired 100% of the shares in Pac-Man NV, the company behind Carousel Group, in a deal that took place on 22 September 2026. The move brings Pac-Man NV’s licence and digital portfolio into Gaming1’s Belgian operations and, as the two businesses have worked together since 2012, it reads less like a new bet and more like the consolidation of a relationship that already runs deep.
Why the Gaming1 acquisition matters now
Belgium is one of Europe’s more tightly regulated gaming markets, and licensed capacity is not something an operator can simply switch on. By acquiring a partner that already holds a licence and a working digital portfolio, Gaming1 adds capability without the delay of building it from scratch. The timing matters because regulated markets reward operators who can scale their compliant, digital offering quickly, and this deal does exactly that.
What the Pac-Man NV deal actually involves
The transaction sees Gaming1 take full ownership of Pac-Man NV, the company behind Carousel Group. Gaming1 gains access to Pac-Man NV’s licence and digital portfolio, and the acquired activities are being integrated into Gaming1 with immediate effect. One detail stands out: the transaction does not involve the transfer of any employees, with the teams instead working together to integrate the activities smoothly.
Why Gaming1 Bought a Partner It Already Knew
The operator read is straightforward. Buying a partner you have known since 2012 removes much of the uncertainty that usually comes with an acquisition, because the licence, the portfolio and the working relationship are already understood quantities. The company set out its own rationale around player experience and responsible play, with Sylvain Boniver, COO, stating: “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.” For a licensed operator, folding in a known digital asset is a lower-risk path to a stronger local position.
What Gaming1’s Pac-Man NV Deal Doesn’t Reveal
The press release does not disclose the financial terms of the deal, nor the scale of Pac-Man NV’s operations or its contribution to Gaming1’s digital footprint. Without those figures, the strategic logic is clear but the commercial weight of the acquisition cannot be measured from the announcement alone. The no-employee-transfer structure also raises a practical question about how quickly capabilities tied to those teams can be fully absorbed, even if integration is described as immediate.
What Comes Next for the Regulated Belgian Gaming Market?
The immediate integration signals that Gaming1 intends to convert this acquisition into an active part of its Belgian offering quickly rather than hold it at arm’s length. For the wider regulated market, deals like this point to continued consolidation, where established operators absorb licensed partners to deepen their digital presence instead of competing against them. The meaningful takeaway is that in regulated gaming, a licence and a trusted partnership can be worth more than a headline price tag, and Gaming1 has chosen to own both outright.
Source: Gaming1
