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Gambling.co.uk: Gambling News Archive
Interactive Gaming Holdings Take Over Premier Bet Limited
Acquisition of Premier Bet is expected to make IGC’s profits soar
Tuesday 2nd August 2005
Interactive Gaming Holdings has announced that it has taken over the businesses and assets of Internet bookmaker, Premier Bet Limited. The acquisition, at consideration of £1 million, has been issued through the distribution of 5,555,555 shares, a £500,000 three per cent convertible unsecured loan and an option to subscribe for up to 5,398,770 shares at 18p per share.
IGC believe the acquisition will lead to an annual turnover of over £25 million and will allow Premier Bet to develop and increase to other betting markets. New gaming products, such as online poker and other casino games are also on the horizon, expected to further advance the company. IGC’s Chairman and Chief Executive, Thomas Taulé, says their strategy has been to expand by acquisition. “This is a seminal development for the enlarged group and it now has a radically enhanced earnings profile.”
Source: OnlineCasinoNews
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