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Rank Group PLC Announces Sale Of Blue Square Bet Business To Betfair Group plc

Tuesday, 2 Apr 2013 10:00am EDT

Rank Group PLC announced that t it has completed the sale of the assets of its Blue Square Bet business to Betfair Group plc for GBP5 million. Rank intends to focus its resources on further developing the Grosvenor Casinos and Mecca brands in venues and via digital channels.

Churchill Downs Inc To Acquire Oxford Casino In Oxford, Maine

Friday, 29 Mar 2013 12:00pm EDT

Churchill Downs Inc announced that it has entered into a definitive purchase agreement to acquire Oxford Casino (Oxford) in Oxford, Maine, for total consideration of approximately $160 million, to be paid in cash. The transaction, which is dependent on the Company securing a gaming license from the Maine Gaming Control Board, and on other usual and customary closing conditions, is anticipated to close in the fourth-quarter of 2013. If certain closing conditions are not satisfied, the Company could be obligated to pay an $8 million termination fee. The property opened in June 2012 and completed an expansion of its gaming floor in early October 2012; thus, only limited actual financial data is available. Based on the Company's projections and Oxford's management team's budget, the Company expects that at closing the transaction price will represent a multiple of approximately 7 ½ times the property's then-trailing twelve month EBITDA (earnings before interest, taxes, depreciation and amortization.) The transaction is expected to be immediately accretive to earnings per share and provide annual free cash flow of approximately $12.5 million. The transaction will be funded through the Company's existing credit facility. While the acquisition is an equity transaction, for tax purposes it will be treated as an asset transaction which the Company expects will provide tax benefits that will effectively reduce the transaction price multiple.

GVC Holdings PLC Completes Acquisition Of Sportingbet PLC

Tuesday, 19 Mar 2013 11:40am EDT

GVC Holdings PLC announced that the Group has completed the acquisition of Sportingbet plc. The acquisition was made as part of a recommended offer for Sportingbet by GVC and William Hill plc. William Hill plc has acquired Sportingbet's Australian business and has been granted a call option over Sportingbet's Spanish business. Terms of the transaction were not disclosed.

William Hill plc Completes Sportingbet Acquisition

Tuesday, 19 Mar 2013 11:16am EDT

William Hill plc announced that it has completed the acquisition of Sportingbet's Australian business and has been granted a call option over Sportingbet's locally licensed Spanish business for a total cash consideration of GBP459.4 million. The acquisition was made as part of a recommended offer for Sportingbet by William Hill and GVC Holdings plc (GVC). It is in line with the Group's strategy to develop its online business, to increase its exposure to attractive markets by taking local licences and to diversify its revenues by geography.

Unibet Group Plc to Acquire Social Gambling Business

Tuesday, 19 Mar 2013 04:30am EDT

Unibet Group Plc announced that it has signed a conditional agreement to acquire 100% of Social Gambling (Channel Islands) Ltd, SGCI, which principal asset is an investment in Bonza Gaming. Bonza is one of the first developers to launch real money gaming on the Facebook Platform. The first game, Bonza Slots, was launched for the United Kingdom market at the start of 2013. SGCI holds slightly less than 50% interest in Bonza, alongside co-investor Plumbee Limited, an entrepreneurial social gaming business. After expected dilution for incentive schemes, the Company’s equity interest in Bonza will be approximately 45%. Bonza holds a B2C gambling license in Alderney. Unibet is paying a nominal price of GBP 100 but will provide a GBP 2 million loan facility to support the growth of Bonza, of which GBP 0.5 million is expected to be drawn down on completion.

Olympic Entertainment Group AS' Subsidiary Acquires Dutch Company; Establishes Two Companies in Jersey

Tuesday, 12 Mar 2013 03:43am EDT

Olympic Entertainment Group AS (OEG) announced that on March 11, 2013 OEG's subsidiary Olympic Casino Eesti AS acquired a 100% share holding of a holding company Siquia Holding B.V. (share capital 21,101 EUR) registered in the Netherlands. In addition on March 11, 2013 OEG established and registered the companies Gametech Services Limited and Gametech Licensing Limited in Jersey without making a share capital contribution, whereas the authorized capital of both companies is 200,000 GBP. The aim of establishing and acquiring the subsidiaries is to create a legal platform for the expansion of OEG group's activities in markets related to the group's main business and in the business of remote gambling.

Ladbrokes Plc Announces Completion Of Acquisition Of Betdaq Betting Exchange

Friday, 1 Mar 2013 02:00am EST

Ladbrokes Plc announced that further to the announcement made earlier, the Company now announced that it has completed the acquisition from Tbh Limited (TBH) of Global Betting Exchange Alderney Limited (GBEA), the operator of the betdaq exchange business, and a 10% stake in TBH Guernsey Limited (TBHG), the technology provider to gbea, with a call option to acquire the remaining shares in TBHG after four years. 6,952,405 ordinary shares of 28 pence each in The Company have been allotted to TBH as part consideration for the acquisition of GBEA. Application has been made to the UK Listing Authority and the London Stock Exchange for these shares to be listed on the Official List maintained by the UK Listing Authority and to be admitted to trading on the London Stock Exchange. Dealings are expected to commence on March 04, 2013.

Betsson AB Acquires Automaten Brands

Tuesday, 19 Feb 2013 07:39am EST

Betsson AB announced that it has entered into an agreement to acquire the brands Sverigeautomaten.com, Norgesautomaten.com and Danmarksautomaten.com from Cherry, for a consideration of SEK 286 million, of which SEK 60 million constitutes an additional purchase price. In practice, the deal implies that Betsson AB`s subsidiary in Malta, which already is responsible for the operation of the Automaten sites, also takes over the brands and the responsibility for the external marketing of the brands. Simultaneously, Cherry acquires the brand Cherrycasino.com from Betsson AB`s Maltese subsidiary, for a consideration of SEK 1 million. The initial net consideration of SEK 225 million will be paid by the delivery of 1,063,895 newly issued Betsson B shares. The additional purchase price will be paid in cash after 12 months.

Berjaya Assets Berhad Acquires Sunrise Bonanza Sdn Bhd

Thursday, 7 Feb 2013 04:43am EST

Berjaya Assets Berhad (BAssets) announced that BAssets has on February 7, 2013 acquired 100% equity interest comprising two ordinary shares of MYR1.00 each in Sunrise Bonanza Sdn Bhd (Sunrise) for a total cash consideration of MYR2.00 (Acquisition).

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Analyst Research

Report Title Price
LEISURE AND GAMING PLC
Provider: Edison Investment Research
$10.00
Buy
SPORTINGBET - Q3 RESULTS UPDATE
Provider: Edison Investment Research
$10.00
Buy
PROBABILITY - BETENTERTAINMENT
Provider: Edison Investment Research
$10.00
Buy
SPORTINGBET - A YEAR OF TRANSITION
Provider: Edison Investment Research
$10.00
Buy
SPORTECH - A BUSINESS IN TRANSITION
Provider: Edison Investment Research
$10.00
Buy

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