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Gambling.co.uk: Gambling News Archive
ISC Entertainment Acquisition By Sportingbet
Year end for Sportingbet sees purchase of ISC and surprise profits
Tuesday 2nd August 2005
Sportingbet, owner of several online poker sites, has announced it has bought ISC Entertainment Inc, owner of such gaming marketing companies such as mysportsbook.com and worldwidegamble.com, for $16.5 million in cash and 2,745,158 Sportingbet ordinary shares.
“IGC is a high quality business and the acquisition is a strong addition to our existing US-facing brands. With almost no integrating required and solid organic growth prospects, we look forward to developing ISC’s brands within our industry leading portfolio,” says Nigel Payne, CEO of Sportingbet.
In addition to the sale, Sportingbet has announced that a growth in customers along with gambling margins has seen unexpectedly high profits, with an expectation of at least £60.5 million for the year ending 31 July 2005.
Source: OnlineCasinoNews
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