Unibet’s iGame Group purchase complete

By David Cook
Unibet has announced it has completed the acquisition of fellow operator iGame Holding and its subsidiaries the iGame Group for €59m.

Plans for the acquisition were announced in August and its value has been paid as cash up front.

Earn-out payments may be payable based on the iGame Group’s financial results for the period up to 30 June.

The online gambling business of the iGame Group will be consolidated in Unibet’s results.

Unibet also announced it has secured a new credit facility for €120m, in place of a previous credit facility of €50m, in order to finance current projects.

Unibet announced plans to acquire the online gambling business of operator Stan James for a purchase price of £19m in July, which is expected to be completed in the second half of the third quarter of 2015.

It was announced in January that Unibet had disposed of its 15 million shares in operator Bingo.com that it acquired in May as well as the completion of the acquisition of the domain Bingo.com and the related European real-money gambling business from Bingo.com.

A record £80.5m gross winnings revenue was reported by Unibet for the second quarter of 2015, up from £77.1m.

Profit before tax for the period January to June was £26.5m, down 60%.

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