A Winning Deal For Betbrokers

Published: Monday, January 21, 2008 Online-Casinos.com

A WINNING DEAL FOR BETBROKERS

Acquisition of Wayne Roote's Las Vegas company delivering the goods


Betbrokers, a brokerage and clearing house for the sports betting industry is seeing some good results from its $6.5 million acquisition of Wayne Roote's Winning Edge group last year. The company has seen its average deal size rise by 16.18 percent, with the newly acquired Winning Edge adding $2.3 million in revenue.

The average deal size increased to GBP 1 106 for 2007, while the number of transactions rose by 74.7 percent to 52 352. Traded volumes were up to GBP 53.6 million from GBP 28.5 million.

Betbrokers' retail client base expanded to 1 345 as at 31 December 2007 from 519 a year earlier. The wholesale client base has also grown considerably and stands at 317, an increase from 213 at the corresponding date in 2006.

"Winning Edge has proved to be an important addition to the group's comprehensive offering as seen by the record turnover since the acquisition," said chief executive Wayne Lochner. "We are confident that Winning Edge will continue to perform in the future and believe that the group can benefit from the significant cross-selling opportunities that exist between our UK operations and Winning Edge," he added.

Betbrokers completed the $6.5m purchase of Las Vegas-based sports information and tipping service Winning Edge in September.