Stanley Leisure's Online Gambling Branch Sold
Published: Monday, October 17, 2005 Online-Casinos.com
STANLEY LEISURE'S ONLINE GAMBLING INTERESTS SOLD
GBP 1.86 million in cash, and another conditional GBP 280 000 the price
Starting the week with a bang is the news that Leisure and Gaming plc has acquired Stanley Entertainment NV, the online casino business of Stanley Leisure plc, for GBP 1.86 million in cash and a potential deferred payment of a further GBP280,000.
The purchaser will benefit from bigger UK and European revenue streams and an extended customer base for its international business. The acquisition also complements the VIP Group business, which Leisure and Gaming acquired in June 2005.
The agreement calls for a strategic partnership which will see Leisure and Gaming becoming Stanley Leisure's chosen partner for developing their brands and assets online, leveraging Leisure and Gaming's operational and product infrastructure.
Affiliate marketers will be glad to learn that the two companies have signed an affiliate agreement for an initial 12 months in which Stanley Leisure will drive its customers to certain Leisure and Gaming sites including the Acropolis casino business.
The partnership will include a poker offering and a dedicated slots offering. Under the agreement, Leisure and Gaming has committed GBP140,000 as a pre-payment against future affiliate revenues to Stanley Leisure.
