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Betting firm wants to raise a million Euros
12/23/09 - Betbull, which achieved control of a joint Spanish venture with the Bwin group recently has announced that it is to effect a new share issue in order to raise a million Euros to develop the Betbull Bwin Espana retail betting business in Madrid.
Betbull said in a statement that it would be placing 800 000 ordinary shares of one Euro each at a placing price of Euro 1.25 in order to raise one million Euros before expenses.
“Certain existing shareholders including members of the management team have agreed to subscribe for shares pursuant to the placing,” a company spokesman revealed this week.
Earlier this (December) month, following a share-based loan redemption, Betbull Holding became the controlling owner of the Betbull Bwin Espana SA joint venture established in 2007. Bwin agreed to the conversion of a Euro 2.5 million loan note into 1.25 million ordinary Betbull shares priced at one Euro each as part of the deal, while the Austrian firm will also receive an additional 1 101 124 shares in Betbull in exchange for setting up and funding the Spanish joint venture.
Once approved by shareholders and authorities, the agreement will result in Betbull's issued share capital increasing by over 2.35 million to 10 914 624 with Bwin owning 36.98 percent of the British firm.
Betbull is currently busy relocating its registered office from the UK to Austria and should have completed the process by the end of the first quarter of 2010. Consent is currently being sought from Her Majesty's Revenue And Customs for a change in tax residency following the relocation.
“We are happy to have reached agreement on further funding for our Spanish operations, clearly demonstrating the company's commitment and confidence in this area,” said Simon Bold, new co-managing director for Betbull.
“Relocation of the company from London to Vienna is in the final stages and we will benefit in the coming year from cost savings associated with this move.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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