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GAMING VC IN LATIN AMERICAN ACQUISITION

AIM-listed Gaming VC Holdings S.A. has announced the acquisition of the business and assets of betboo.com, an online gambling site formerly owned by Intera NV, for an initial consideration of US$4 million in cash plus a three-year earn out.
 
Betboo was established in 2005 to provide Bingo, Sportsbook, Casino and Poker access to South American customers. Parent group Intera was incorporated and is regulated under the laws of the Netherlands Antilles.
 
Betboo has over 3 000 active monthly customers and, for the 12 months to 30 June 2009, generated unaudited revenues of $4.4 million achieving break-even at the profit level. The business has no employees, instead having service contracts with third party companies supplying Customer Relationship Management and IT support. The business has its own software for Bingo and Sportsbook and uses third-party software for the Poker and Casino networks.
 
The senior management team, comprised of the three people who were also the majority owners of the business, are to remain with betboo following the acquisition.
 
The total consideration, which is capped at US$30 million and is payable in cash, will be calculated by reference to five times the audited profits after tax for the 12 month period up to the third anniversary of the acquisition less the initial consideration and any interim payments. Interim payments will be paid shortly after the first and second anniversaries of the acquisition equating to one times audited profits for the preceding 12 month period.
 
Commenting on the acquisition, Kenny Alexander, Chief Executive of Gaming VC, said: "This acquisition complements our strategy of continuing to diversify outside of Germany. The Board believes that South America represents an exciting market opportunity. With a population of approximately 285 million, many of which are passionate about sports, and increasing broadband penetration, we are confident of significantly increasing betboo's presence in this new territory for Gaming VC."



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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