SportingBet Plc announces $297.5 million acquisition of ParadisePoker.com
Thursday 28th October 2004
Sportingbet Plc, the world’s largest publicly traded online gaming company, has finally officially announced the acquisition of ParadisePoker.com, following a week of speculation. The deal, worth $297.5 million, will bring Sportingbet’s customer base to in excess of two million. ParadisePoker.com is the world’s third largest online poker room with over 721,000 registered customers, 97,000 active players and a market share of around 10 percent. In August and September 2004, Paradise was taking in $6.6 million and $7.0 million respectively.
“Sportingbet’s acquisition of ParadisePoker.com has a significant impact on both our company and the online betting, gambling and gaming market,” said Alex Czajkowski, marketing director, Sportingbet Plc Americas Region. “Like Sportingbet’s Sportsbook.com, ParadisePoker.com is a strong brand with a large and loyal customer base.”
Sportingbet already operates more than 30 brands in 200 countries and today reported turnover of $2,620 million with an operating profit before goodwill and exceptional costs of $39.57 million for the 16 months to July 31, 2004. Founded in 1998, Sportingbet is listed on the London Stock Exchange.
Sportingbet Plc, the world’s largest publicly traded online gaming company, has finally officially announced the acquisition of ParadisePoker.com, following a week of speculation. The deal, worth $297.5 million, will bring Sportingbet’s customer base to in excess of two million. ParadisePoker.com is the world’s third largest online poker room with over 721,000 registered customers, 97,000 active players and a market share of around 10 percent. In August and September 2004, Paradise was taking in $6.6 million and $7.0 million respectively.