Veltyco terminates plans to acquire Ruleo for $7.6m

Veltyco Group plc, the gaming website promoter, has terminated plans to acquire Ruleo Alpenland GmbH, operator of the BTTY branded sportsbook in Germany and Austria.

Updated on 9 July 2018
Caroline Byrne
Journalist
Veltyco terminates plans to acquire Ruleo for $7.6m

The decision, announced on Monday, followed the completion of due diligence and developments related to the German licence program that may impact BTTY, Veltyco said.

Isle of Man-based Veltyco said in February that it had agreed to buy Ruleo for €6.5m ($7.6m) in cash and shares in a deal that would have given the company expanded reach in Europe.

BTTY has a gambling licence in the German State of Schleswig-Holstein and an official bookmaker licence in Austria. It has been developed as an app for iPhone and Android smartphones.

Veltyco operates its own brands and focuses on marketing for partners in the gaming industry.

Topics
Sports Betting
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Caroline Byrne
Journalist

Caroline Byrne is a London-based journalist and writer with experience in editing, online research, content strategy and financial reporting. She has contributed editorial content and industry insight that supports professional audiences in understanding key developments across the gambling, gaming and iGaming sectors.
Her work spans news analysis, feature writing and strategic content development, reflecting strong skills in storytelling, and subject-matter awareness.

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