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Unibet Acquisition of Betchoice Official


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A few weeks ago Malta-based online gaming giant Unibet announced its intention
to acquire leading independent Australian bookmaker Betchoice Corporation Party
Ltd, and this week it confirmed that the acquisition has officially gone
through.

As per the terms of the Unibet Betchoice acquisition, Unibet is now the
100 per cent owner Betchoice, which it acquired for the princely sum of AUD$20
million, which will serve to give it a solid foothold in the lucrative regulated
Australian online gambling industry.

Unibet has a Foothold in the Lucrative Australian Market

Unibet recognised that the Australian online gambling market is one of the
fastest growing such markets in the world, and the acquisition of Betchoice will
allow it to launch a host of live betting services in the future, as well as
delve into the lucrative Australian horse racing industry when it sees fit.

As part of the Unibet acquisition deal, Betchoice co-founder, majority
shareholder and chairman, Mark Morrissey, will stay on with the firm in an
earn-out capacity, which is based on 5.5 times Betchoice’s domestic earnings for
2014 before EBITDA, minus the initial AUD$20 million.

Said Morrisey, ‘We are delighted to become part of the wider Unibet group. There
is a substantial market opportunity in Australia and with Unibet’s expertise in
marketing and risk management, together with its market-leading sports betting
offering, I’m confident we can increase substantially our market share and
establish Unibet as one of the leading brands in Australia.’

Unibet has also agreed to pay out an additional AUD$2.4 million to selected
other Betchoice shareholders in the event that the company’s 2014 earnings in
Australia add up to more than AUD$4.4 million.

Said Unibet Chief Executive Officer, Henrik Tjarnstrom, ‘The acquisition
provides us with a basis to grow market share in Australia and means that
Unibet’s gross winnings revenues proportion from re-regulated markets will
increase. We are also grateful for the licensing authority’s swift processing,
which means that we get immediate access to the regulated Australian online
market.’

A History of Unibet Gaming Group

Since it’s launch in 1997, Unibet has gone from strength to strength and today
is one of the biggest privately-owned online gaming operators in Europe, and is
listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden. It boasts over
6.2 million registered customers in more than 100 countries, and provides its
services in almost 30 languages.

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