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BETSAFE: FINAL PAYMENT MADE BY BETSSON
03/11/2012 : Final payment of Euro 12.5 million effected through issue of new class B shares
The Swedish gambling group Betsson's final payment of Euro 12.5 million for Betsafey Artic Invest AS has been achieved, the company reported this week.
Betsafe is a Malta-licensed operation focused on the Nordic markets and offering sports betting, casino and poker to its clients.
On 15 June 2011, Betsson paid an initial purchase price for the operations of Betsafe in the amount of Euro 34 million, made up of cash and cash equivalents at a value of Euro 19.6 million and class B shares in Betsson at a value of Euro 14.4 million.
In addition, Betsson paid Euro 7.4 million for acquired cash and cash equivalents and acquired net income. Based on the development of the acquisition and its integration during 2011, an additional purchase price not exceeding Euro 27.5 million may become payable by Betsson, which means that the total purchase price for the operations will not exceed Euro 61.6 million.
Betsson has an option to pay any additional purchase price in cash or by way of transfer or issue of Betsson shares. Betsafe reached the targets in 2011 for the additional purchase price amounting to Euro 15 million. The conditions are fulfilled for the remaining part of the additional purchase price, i.e. up to Euro 12.5 million.
Betsson directors decided to pay the remaining Euro 12.5 million by way of the issue of Betsson shares. The new class B shares will be subscribed for by the sellers of Betsafe. The subscription price for the new class B shares amounts to approximately SEK 182 per share.
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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