Gaming Nation has agreed to acquire UK stadium betting service company BD Sport Group, and will obtain a 100% stake in BD Sport, BD Stadia and BD Deportes.
The total purchase price for the company was £11m, with an initial cash payment of £8.8m which could potentially be boosted by additional earn out provisions. The transaction expected to close in March of next year, subject to general closing conditions and regulatory approvals.
BD port processes over three million bets each season from football and rugby fans, and operates at 31 stadiums across the UK.
Scott Secord, President and Chief Executive of Gaming Nation, says: “Gaming Nation and its board of directors firmly believe the acquisition of BD Sport will prove to be extremely accretive for our shareholders based on a multiple of factors including the attractive EBITDA to free cash-flow of BD Sport's businesses, the ability to work with the existing infrastructure of BD Sport in deploying Gaming Nation’s 5050 Central business within the European market, as well as the substantial growth opportunities into new stadiums that BD Sport can realise when combined with 5050 Central's electronic raffle system.”