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Ladbrokes Plc Acquires Australian Sports Betting Operator

Wednesday, 4 Sep 2013 02:00am EDT 

Ladbrokes Plc announced that it has agreed to acquire Gaming Investments Pty Ltd (GIPL), a growing online sports betting business in Australia. GIPL's business includes Pty Ltd (BPL), operator of the online bookmaker and Panda Gaming Pty Ltd (PGPL), operator of an racing and sports focused affiliate network in Australia. The acquisition, expected to complete this week, will see Ladbrokes acquire GIPL under its newly formed Australian arm 'Ladbrokes Australia' for an initial consideration of AUD22.5 million, approximately GBP13 million plus an earnout payable at the end of three years which is based on the EBITDA for Ladbrokes Australia for the year ending June 30, 2016. 

Company Quote

2.4 +2.11%
30 Jan 2015