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Unibet to Acquire Aussie Gaming Firm Betchoice

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Headquartered in Malta, online gaming operator Unibet Group has agreed to
acquire successful independent Australian online bookmaker Betchoice Corporation
Party Ltd, for the initial sum of £13.6 million.

While the acquisition is subject to approval by Australia’s Northern Territory
Racing Commission, there is no reason why the purchase won’t go through,
possibly before June this year, which will give Unibet an immediate foothold in
Australia’s highly lucrative regulated gambling market.

Unibet will have Access to Australia’s Gaming Market

Unibet, which offers state-of-the-art online sportsbook, casino, live casino,
poker, bingo, games, skill and scratch card facilities, will benefit by gaining
access to Australia’s gambling market through a well-established gaming firm
such as Betchoice, which offers a variety of Australian-focused sports and horse
race betting offerings.

As part of the Unibet acquisition of Betchoice, over and above the initial sum,
the Malta-based firm has also agreed to an ‘earn-out’ for Betchoice co-founder
and chairman, Mark Morrissey, of five and a half times the company’s earnings
for 2014 before EBITDA, minus the initial purchase price.

In addition, an aggregate sum of £1.63 million will be paid to select Betchoice
shareholders, provided the firm’s Australian earnings top more than £2.99
million in 2014.

‘This strategic acquisition gives Unibet immediate access to the regulated
Australian market, which is currently open to sportsbetting and horse racing,
and we intend to rebrand the business quickly to Unibet,’ said Unibet CEO,
Henrik Tjarnstrom.

Unibet will Enhance Betchoice’s Sportsbetting Offering

‘Betchoice already has a strong offering and market position in horse racing and
through Kambi, and Unibet has the opportunity to enhance the quality and
performance of Betchoice’s sportsbetting offering and so to deliver revenue
growth and margin improvements,’ he said.

Mark Morrissey, who will remain with
Betchoice after the acquisition has gone through, is reportedly very happy with
the acquisition deal.

‘We are delighted to become part of the wider Unibet Group,’ he said. ‘There
is a substantial market opportunity in Australia. With Unibet’s expertise in
marketing and risk management and its market-leading sportsbetting offering, I
am confident we can substantially increase our market share and establish Unibet
as a leading brand in Australia.’

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