Mangas Gaming Gains Control of Expekt & Bet-at-home
Published: Friday, March 06, 2009 Online-Casinos.com
French gambling group Mangas Gaming SAS with substantial investments in online gaming and sports betting has revealed that two major deals have been finalized.
Betclic, announced it has entered into an agreement to acquire a controlling stake in Bet-at-home.com AG, and that it will launch a public offer to acquire the shares held by the minority shareholders.
A Malta jurisdiction licensed company, Bet-at-home has a registered player base of over a million people. Founded in 1999 in Wels, Austria. Since it's early beginnings the company has made great strides in online gambling operations in Eastern Europe, Germany, and Austria. Mangas reported that the completion of the Bet-at-home acquisition and tender offer is subject to certain conditions, including the usual regulatory approvals.
Mangas stated that it has gained control of Expekt, a Scandinavian online sports betting operation with offerings in Northern European markets, and online poker.
Isabelle Parize, Chief Executive Officer of Mangas Gaming, said, "After the acquisition of Betclic in 2008 and the recent announcement of the acquisition of Expekt, one of the leading online betting and gaming company in Scandinavia this transaction perfectly complements the Mangas Gaming strategy of creating a strong European-wide network of online sports betting and gaming operations."
Bet-at-home founders Franz Omer and Jochen Dickinger said: "We are happy to welcome Mangas Gaming as shareholder of Bet-at-home.com AG which gives bet-at-home.com AG the opportunity to join one of the leading online gaming and betting networks in Europe. We also appreciate that the shareholders of Bet-at-home.com AG are given the opportunity to sell their shares to Mangas Gaming."
Parize added that Mangas now has a presence in over 25 countries and benefits from a balanced breakdown of its activities over continental Europe, offering its services in 24 different languages. Although exact figures were not revealed the figure of $125 million Euro for Expekt was suggested and Bet-at-home was at around $38.2 million Euro.
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