Following the approval by Australian Northern Territory Racing Commission on 28 February 2012, Unibet Group plc has today finalised the acquisition of 100 per cent of the Australian company Betchoice Corporation Pty Ltd.
The acquisition price is AUD 20.0 million (GBP 13.6 million), on a debt free cash free basis, which has been paid as cash up front today.
In addition, there is an earn-out for Mark Morrissey, founder, Chairman and 38 per cent shareholder based on 5.5x 2014 EBITDA in Australia less the initial acquisition price. A further AUD 2.4 million in aggregate will be payable to certain other shareholders, if 2014 EBITDA in Australia exceeds AUD 4.4 million.
Mark Morrissey will remain with the business post completion.
Unibet Group plc will consolidate Betchoice Corporation Pty Ltd as from today in its results.
“We are grateful for the licensing authority’s swift processing which means that we get immediate access to the regulated Australian on-line market. The acquisition provides us with a basis to grow market share inAustraliaand means that Unibet’s gross winnings revenue proportion from re-regulated markets will increase,” says Henrik Tjärnström, CEO Unibet.
For more information:
Inga Lundberg, Investor Relations +44 788 799 6116
Unibet was founded in 1997 and is an online gambling company listed on NASDAQ OMX Nordic Exchange inStockholm. Unibet is one of the largest privately-owned gambling operators in the European market and provides services in 27 languages through www.unibet.com, www.unibet.dk, www.unibet.fr, www.unibet.it, www.maria.com and www.mariacasino.dk.
Today, Unibet has more than 6.2 million customers in over 100 countries. Unibet is a member of the EGBA, European Gaming and Betting Association, RGA, Remote Gambling Association in theUKand is audited and certified by eCOGRA in relation to responsible and fair gaming.
More information about Unibet Group plc can be found on www.unibetgroupplc.com