SBC News Voice of the Sports Betting Industry
Unibet has informed shareholders and the media that it has completed its acquisition of iGame Holding Plc. Unibet governance stated that all conditions and deal precedents had been met, allowing for the completion of Malta based iGame Holding and its assets.
Unibet completes the €59 million (£42 million) cash deal for iGame which was first announced on 7 August.
Stockholm listed Unibet further informed that an agreed earn-out payment had been attached to the deal, which is calculated at x6.2 EBTIDA performance and capped at €20 million. .
In order to finance current projects and allow flexibility for future investment, the Unibet Group has secured a new credit facility for €120 million, replacing the previous €50 million credit facility.
Unibet informed the media that iGame assets would continue to trade under their existing brands and trademarks.
In the opening six months of 2015, iGame recorded group revenues of €13.7 million (£9.6 million) combined with an H1 2015 EBITDA of €4.7 million (£3.3 million). The operator further highlighted that it reached over 75,000 active customers during the period.
The acquisition of iGame assets sees Unibet strengthen its position as Scandinavia’s leading betting operator.
Unibet governance completes its second acquisition of 2015. In July Unibet confirmed the acquisition of UK Bookmaker Stan James’ online betting division for £19 million, as the operator looked to extent its UK market services.
