Update: BetOnSports Acquisition
Published: Thursday, December 29, 2005 Online-Casinos.com
UPDATE: BETONSPORTS ACQUISITION
The purchase price was US$37 million
Further to Online-Casinos.com and InfoPowa reports yesterday regarding the acquisition by Internet gaming company BetonSports of MVPSportsbook, Player Super Book and V-Wager, the company has now confirmed that the purchase price agreed is $37 million (approx GBP 21 million).
BetonSports will initially pay $20.2 million with $15.2 million in cash and 2.18 million shares together with cash of up to $16.8 million conditional on the profitability of the acquired businesses up to February 2007.
"This represents an exceptional opportunity to bring well respected brand names into our family" said BetonSports chief executive David Carruthers.
BetonSports confirmed sports betting margins for NFL in America had been hit by a large number of favourites winning.
"The company expects that these margins will follow the trend of earlier years and return to normal levels during the balance of the financial year, in which case the results will be in line with expectations" said Mr Carruthers.
Gross win margins in all other sports are ahead of last year.
BetonSports also announced that finance director Craig Lapsley has resigned from the board today but will continue to be employed as company secretary. Richard Creed has been appointed interim finance director until a permanent replacement is found.
An old favorite brought back under a new software brand, U.S. friendly.
Use just one account to access poker, sports book and casino gaming.
Excellent number of high-quality games and great support.
Nice sign-up and on-going bonuses with fast cash withdrawal processing.
Good selection of fun games including some new, innovative games on offer.
Huge sign-up bonus with reasonable wagering requirements and an excellent look and feel.
New players receive an insane 200% bonus up to $1000 free on both their first and second deposit.
New players offered up to $888 free in sign up bonuses, a special bonus available for blackjack players as well.
