Big Acquisition Ambitions At Unibet

Published: Tuesday, November 27, 2007 Online-Casinos.com

BIG ACQUISITION AMBITIONS AT UNIBET

Online gambling group is looking for Euro 100 million to expand

Online gambling group Unibet is still very much on the acquisition trail, it appears from a statement this week, with plans to raise up to Euro 100 million to fund its intention to expand through buying into relevant companies.

Unibet management is currently exploring the possibility of issuing a bond of around Euro 100 billion, the gambling company revealed in a statement to the market.

"For some time now, the company has had discussions with a number of parties regarding strategic acquisitions and it is the board of directors' opinion that one or more of these acquisitions may be realised," the Unibet statement informed. "For the purpose of being financially prepared in connection with such acquisitions, Öhman Fondkommission has been assigned by the Board of Directors to explore the possibilities of raising capital in the bond market to a maximum volume of EUR 100 millions, in line with the company's financial objectives."

Since its founding, the Stockholm-listed Unibet Group has achieved high growth, both organically and by means of acquisition. The company says it is continually evaluating acquisition alternatives in alignment with its vision to increase the growth within strategic and geographic areas, and with the corporate objective to position the company as one of the three largest participants in every geographic market entered.

Unibet was founded in 1997 and is one of the largest privately-owned gambling operators in the European market, providing services in 20 languages. The company claims over 2 million customers in more than 100 countries and is a member of the European Gaming and Betting Association, the Remote Gambling Association in the UK. It is certified by the responsible gambling organisation Global Gaming Guidance Group.