The Modern Times Group (MTG), which owns the Viasat direct-to-home satellite television platform in the Nordic region, increased its stake in Nordic Betting Ltd. to 90 percent, MTG announced. MTG will pay 8 million euros ($9.4 million) in cash for an additional 39 percent stake in Nordic Betting, which operates the Bet24 online betting and gaming businesses.

“There are clear synergies and cross promotional opportunities between our sports channels and programming and Bet24’s activities. We will continue to invest in this area in order to increase Bet24’s market share, enhance its product offering and extend its range of services,” Hans-Holger Albrecht, MTG’s CEO said.

The deal is expected to close in early 2006.