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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 :

MLB Odds: Stroman Gets the Nod Against Royals - The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.

Microgaming in bingo software deal with Marathonbet - Marathonbet’s loyal customers will now be able to enjoy an extensive Bingo offering – marking another big expansion of its online gaming collection.

Microgaming QuickFire enters Coloumbia - Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.

Partypoker to sponsor WSOPC Uruguay - Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.

MLB Odds: Jays Hope to Spoil Orioles’ Visit - The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.

Money Storm Casino - Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.

Big Online SLot Win on Ultimate 10X Slot - At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000

MPN Greatest Poker Player in the Universe - The MPN announces the third annual Universal Championship of Poker (UCOP III), boasting €750,000 guaranteed across 59 tournament events this September

PartyPoker Exits Australia - From 31st August 2017 partypoker players will no longer be able to play from Australia. Players’ deposited funds are safe and available for withdrawal.

Mercury Poker Live on Indian Poker Network - Mercury Poker Live on MPN's Indian Poker Network. MPN India, established in 2015, is a ring-fenced poker network dedicated to the Indian market and operating exclusively in Indian Rupees.

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