Unibet Group plc has today paid the first earn-out payment of EUR 7.5 million to the former owners of the iGame Group. In accordance with the terms of the purchase agreement signed on 7 August 2015, a maximum payment of EUR 7.5 million was payable by 31 March 2016 if iGame Group met its financial targets for the financial year ended 31 December 2015. Those targets have been met in full.
The remaining earn-out payment up to a maximum of EUR 12.5 million will be assessed by 30 September 2016, based on the results of the iGame Group up to 30 June 2016. During the first quarter of 2016, iGame Group has continued to perform strongly.
The cost of paying the maximum earn-out of EUR 20 million was fully provided in the financial statements of Unibet Group at 31 December 2015, so this payment has no impact on Unibet Group’s reported results for 2016.
For more information:
Inga Lundberg, Investor Relations, +44 788 799 6116
About the Unibet Group
The Unibet Group is one of Europe’s largest listed online gambling operators and is listed on Nasdaq Stockholm. The Group provides services in 20 languages to over 13.5 million customers in over 100 countries through several subsidiaries and brands. The Group is a member of the EGBA, European Gaming and Betting Association, RGA, Remote Gambling Association in the UK and is audited and certified by eCOGRA in relation to the pan-European CEN standard on consumer protection and responsible gaming.
More information about the Unibet Group plc can be found on www.unibetgroupplc.com and twitter.com/UnibetGroup.