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Provider: Wright Reports
Provider: Directors Deals Ltd.

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eBet Ltd Sells Online Business To Sportech PLC

Wednesday, 19 Dec 2012 09:16pm EST 

eBet Ltd (eBet) and its 50% joint venture partner announced the completion of the sale of eBet Online Inc (the Sale), their US-based joint venture, to Sportech PLC for USD 9.3 million. eBet’s Online joint venture partner will continue to be party to the online business with Sportech through an agreed deferred payment of up to USD 3.25 million over a 3 years period in addition to its 50% share of the initial consideration. In addition, and prior to completion, eBet Online Inc repaid in full its outstanding debt of USD1.2 million to eBet. eBet Limited confirms that Net Proceeds, inclusive of the repayment of debt, is approximately USD5.8 million. 

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17 Apr 2014