ukbetting plc (“the Company” or “ukbetting”), the UK’s leading sports content and online gaming business, announces today the acquisition of GoldBet SportWetten GmbH (“GoldBet”), the European online sports betting company, for a maximum consideration of €4.5 million, dependent on the achievement of certain performance criteria. For the year ended December 2003, GoldBet recorded EBITDA of €260,000 on revenues of €8.5 million, with a net asset value of €246,415, and no bank debt.
Trevor Beaumont, ukbetting’s Managing Director of Gaming, believes Europe represents a significant growth opportunity for ukbetting and seeks to leverage the European market, a market that he is familiar with as former Racing and Trading Director of Corals and Managing Director of Eurobet.
Based in Austria, GoldBet (www.goldbet.com) offers single, multiple and special bets, primarily on football and basketball, in Italian, German and Spanish. Under CEO Alex Pelucchi, GoldBet has developed proprietary odds compilation and aggregation software in addition to its sports betting activities.
The acquisition is structured in two parts, 51% of the business will be acquired immediately for €0.5 million and the remaining 49% of the business will be acquired in March 2006.
Peter Dubens, Vice Chairman, commented:
“We are pleased with the progress in ukbetting’s gaming division that has been strengthened by the appointment of Trevor Beaumont. The Goldbet acquisition takes ukbetting into the European gaming market and puts us in a position to take advantage of the expansion currently taking place there. Already profitable, the acquisition will be earnings enhancing, with additional backing from ukbetting including the introduction of other games such as casino and poker. GoldBet is well positioned for further growth into Europe.”
Alex Pelucchi, CEO of GoldBet, commented,
“Over the last 3 years, GoldBet has established itself as one of the leading sports gaming businesses in Europe. With ukbetting’s support, I feel confident that we can consolidate this position and demonstrate tangible growth in the European market.”
For more information, contact:
Peter Dubens, Vice Chairman
020 7766 6909
Edward Bridges / Juliet Clarke
020 7831 3113
About ukbetting plc
ukbetting plc (AIM: UKB.L) is the UK’s leading digital wagering operator. Listing on the Alternative Investment Market in August 2001, ukbetting has since pursued an active acquisitive strategy and now owns and operates ten sports content sites (sportinglife.com, sportal.com, bettingzone.co.uk and TEAMtalk.com, www.rivals.net, www.football365.com, www.planetrugby.com, www.planetf1.com, www.golf365.com and www.cricket365.com) and two wagering sites (ukbetting.com and totalbet.com). Through these sites it is possible to find in-depth information, and place fixed-odds bets, on a variety of sports including horse racing, football, cricket, rugby, tennis, and many more. Following the acquisition of Rivals, ukbetting now has over 5.5 million unique users of its sports content sites and over 180 thousand registered users of its betting sites.
Published on: 12:00AM on 1st April 2004