1/31/2012 : SPORTINGBET COMPLETES DANBOOK AND SCANDIC AQUISITIONS
Danish deal gives company big foothold in newly-regulated country
Online sportsbetting and gaming group Sportingbet has announced the completion of its acquisition of the entire issued share capital of Danish-focused Danbook Limited and Scandic Bookmakers Limited for an aggregate maximum of GBP 8.5 million broken down into GBP 4 million in cash and GBP 0.5 million in Sportingbet shares with a further GBP 4 million subject to certain performance conditions (see previous InfoPowa report).
Both Danbook and Scandic offer a range of fixed odds sports betting, casino, poker and games to Danish customers and were successfully awarded new Danish gambling licences in December.
Sportingbet already operates licensed businesses in Denmark under both its Sportingbet and Centrebet brands, and the combination of these businesses with Danbook and Scandic will give Sportingbet scale in an important, regulated market, said a company statement.