Euro 4 million paid for Winners Apuestas
The joint Spanish venture between Vienna listed Bwin Interactive and sports betting firm Betbull came to an end this week when the former company bought the Spanish betting enterprise, Winners Apuestas, from Betbull.
Winners Apuestas is licensed in Madrid and operates from 6 locations plus points of sale within the Santiago Bernabeu Stadium.
A Betbull spokesman told Yogonet.com that the company will now concentrate fully on its core business in Germany. The sale will release Betbull from the funding obligations required by Winners as it expands in Madrid and further Spanish communities, and allow the already cash flow positive German business to expand and develop under an eagerly awaited liberalising legalization.
Bwin continues to be a major shareholder in Betbull.