B90 purchases Spinbookie and raises £596,800 via subscription
B90 Holdings has reached an agreement with Entercreation to purchase certain assets, including the domain, business, IP and 100% of the operations of Spinbookie.com, an online sportsbook and casino.
Spinbookie is a fully operational website operating on BetConstruct, a gaming software development platform. The website has fully functional and compliant payment options implemented and operates under a Curacao gambling licence.
B90 has decided the website will be operating in different and complementary markets to its existing operations, as well as expanding B90’s reach into new territories in South Africa.
B90 has also collected £596,800 ($791,419) via a subscription of almost five million new ordinary shares of no-par value in the capital of the company with several existing investors, at a price of 12 pence.
The net proceeds of the subscription are to augment the company’s working capital and facilitate the expansion of the operations and launch of Spinbookie.
Karim Peer, Non-Executive Chairman at B90, said: “The acquisition of Spinbookie continues the development of our business. We believe this is a good acquisition for the company as it is planned to accelerate our timeline to profitability, as well as add a valuable new domain to our online real estate.
“By utilising our recently signed affiliate deal with Nordic Group, as well as our other, well established direct to customer marketing initiatives, we will introduce the Spinbookie brand into new and different markets, facilitating more growth and accelerating customer acquisition.”
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