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Sportingbet Buys Two Danish Bookmakers


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Successful online sports betting operation Sportingbet plc, has successfully
concluded the acquisition of two leading Danish sportsbooks, Scandic Bookmakers
Limited and Danbook Limited, in a combined deal worth approximately £8.5
million.

In October last year, Sportingbet entered into separate binding
acquisition agreements with Scandic Bookmakers Limited and Danbook Limited
respectively, through its subsidiaries Interactive Sports Limited and
Sportingbet Holdings Limited.

As part of Sportingbet’s acquisition of the Danish bookmakers, the
online gaming firm’s subsidiaries will be required to pay £0.5 million and £4
million respectively, in addition to a total of £4 million subject to
pre-specified performance criteria.

Sportingbet Beneficiary of More Danish Gaming Licenses

As part of the Danish bookmakers acquisition, Sportingbet will become the
beneficiary of more Danish gaming licenses, which will allow it launch Danish
online gaming sites that are fully compliant with the country’s online gambling
regulations.

In a statement, Sportingbet confirmed it had acquired all shares
of both Danish sportsbooks, in a deal that was facilitated by an £8 million
three-year loan from Barclays Bank, repayable in annual instalments beginning
from January next year.

To meet the share component of the acquisition, Sportingbet issued 1,429,240
new ordinary shares at 0.1 pence each to Scandic and Danbook shareholders,
representing roughly 0.2 per cent of the total issued share capital before the
issue.

As such, Sportingbet has made an application for the new shares to be
admitted to the premium listed segment of the UK Listing Authority’s ‘Official
List’, as well as to the listed securities main trading market of the London
Stock Exchange.

Centrebet and Sportingbet Brands Already Live in Denmark

The acquisition of the pair of Danish bookmakers is not Sportingbet’s first
foray into the lucrative Denmark online gambling market, as it already holds
Danish online gaming licenses to operate sites under its Centrebet and
Sportingbet brands.

Sportingbet’s increased and ongoing interest in Denmark is
not hard to understand, considering most of the world’s leading online gambling
concerns are seeking to expand their interests into newly regulated online
gaming markets, of which the Nordic nation is one.

Headquartered in London, England, Sportingbet offers a wide range of online
sports betting, casino, poker and games facilities across Europe, Australia,
Canada, South America and South Africa. Founded in 1998, the firm is licensed
and regulated in every jurisdiction in which it operates.

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