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CVC Capital Partners Buys SkyBet For GBP 800 Million
Thursday December 04,2014 : SKY SELLS BETTING BUSINESS TO PRIVATE EQUITY FIRM
CVC Capital Partners pays up to GBP 800 million for asset.
According to reports in Thursday's Telegraph newspaper in the UK, major broadcast company Sky has sold a majority stake in its betting business SkyBet to CVC Capital Partners, a British private equity firm, for up to GBP 800 million.
Sky's decision is believed to be motivated by a desire to focus on core pay-TV operations.
The Telegraph report quotes the broadcaster as saying that the sale will "crystallise value" and enable Sky to focus on the "significant opportunity for growth in pay TV across the five markets in which it operates."
Last month the company dropped "British" and "Broadcasting" and adopted Sky as its official name after it completed the GBP 7 billion takeover of Sky Deutschland and Sky Italia.
The parent Sky company will retain a 20 percent interest in SkyBet, along with ongoing broad representation as well as a long-term brand licence agreement.
Under the terms of the Sky Bet deal, Sky will receive GBP 600 million in cash first and a further GBP 120 million at a later stage.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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