Online casino looks to expand with new acquisitions
Wednesday 28th December 2005
Online gaming company BETonSPORTS has bought three U.S.-focused online sportsbooks and casinos for up to $37 million.
The acquisitions of MVPSportsbook, Player Super Book and V-Wager will continue the expansion of the popular sports book.
Chief Executive David Carruthers said, ‘The acquisition extends our cross-selling opportunities and further strengthens our management team with U.S.-facing sports betting expertise.’
The Costa Rica-based company has recently been hit by a large number of favourites winning and has seen its shares fall 1.7 percent to 128p, valuing the group at around £107 million. However, a BETonSPORTS spokesman said, ‘The company expects that these margins will follow the trend of earlier years and return to normal levels during the balance of the financial year, in which case the results will be in line with expectations.’