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Posted 2/22/11 : Near unanimous vote on remaining minority stake
The Irish Times reports that Irelands largest bookmaker Paddy Power's shareholders have given their near unanimous vote at an extraordinary general meeting held in Dublin to purchase the remaining minority stake in Australian bookmaker Sportsbet.
Paddy Power acquired 51 percent in Sportsbet in May 2009, an additional 9.8 percent in February 2010 and further announced in December 2010 its intention to take up the remaining 39.2 percent for a consideration of AUS$132.6 million.
Paddy Power will make an additional AUS$25 million if Sportsbet's EBITDA exceeds AUS$80 million.
Patrick Kennedy, Chief Executive, Paddy Power told shareholders that the rationale for the deal is both strategic and financial in that taking full control of Sportsbet will increase Paddy Power's exposure to the fast-growing Australian market and to one of the top performing developed economies and that the acquisition will be earnings enhancing from the start.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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