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Betsson in Deal With Cherry
Tuesday February 19,2013 : BETSSON IN SEK 286 MILLION ONLINE GAMBLING DEAL WITH CHERRY
Company to acquire top Scandinavian brands Sverigeautomaten.com, Norgesautomaten.com and Danmarksautomaten.com
Internet gambling group Betsson AB announced Tuesday that it has entered into an agreement to acquire the leading Scandinavian brands Sverigeautomaten, Norgesautomaten and Danmarksautomaten from Cherry, for a consideration of SEK 286 million.
SEK 60 million of the agreed consideration constitutes an additional purchase price. In practice, the deal implies that Betsson AB's subsidiary in Malta, which is already responsible for the operation of the Automaten sites, now also takes over the brands and the responsibility for the external marketing of the brands.
Simultaneously, Cherry acquires the brand Cherrycasino.com from Betsson AB's Maltese subsidiary, for a consideration of SEK 1 million.
The initial net consideration of SEK 225 million will be paid by the delivery of 1,063,895 newly issued Betsson B shares. The additional purchase price will be paid in cash after 12 months.
The Automaten brands delivered revenues in 2012 of SEK 168.2 million, which are already included in Betsson's total revenues.
In total, the deal implies that Betsson, calculated on 2012 levels, will make a yearly saving of SEK 52.7 million in costs corresponding to the net effect of savings of revenue share to Cherry from the previous partner agreement and additional marketing spend to be carried out by Betsson.
"The deal is in line with our strategy to focus on B2C in our core markets in the Nordics. Our judgment is that the acquired brands will develop stronger internally because we can use the marketing power and scale advantages of the entire Betsson group." said Magnus Silfverberg, CEO of Betsson AB.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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