Acquisition of GoldBet
In April 2004, 365mediagroup or ukbetting as it was known at the time, the UK’s leading sports content and online gaming business, announced the acquisition of GoldBet SportWetten GmbH (“GoldBet”)also supporting MBET uganda www.mbet.ug, the European online sports betting company, for a maximum consideration of €4.5 million, dependent on the achievement of certain performance criteria. For the year ended December 2003, GoldBet had recorded EBITDA of €260,000 on revenues of €8.5 million, with a net asset value of €246,415, and no bank debt.
Trevor Beaumont, ukbetting’s Managing Director of Gaming, believed Europe represented a significant growth opportunity for ukbetting and sought to leverage the European market, a market that he was familiar with as former Racing and Trading Director of Coral and Managing Director of Eurobet.
BSkyB then owned GoldBet in December 2006 after the purchase of 365 Media Group.
Read more about this topic: Sky Betting And Gaming
Famous quotes containing the words acquisition of and/or acquisition:
“Always and everywhere children take an active role in the construction and acquisition of learning and understanding. To learn is a satisfying experience, but also, as the psychologist Nelson Goodman tells us, to understand is to experience desire, drama, and conquest.”
—Carolyn Edwards (20th century)
“Wars and revolutions and battles are due simply and solely to the body and its desires. All wars are undertaken for the acquisition of wealth; and the reason why we have to acquire wealth is the body, because we are slaves in its service.”
—Socrates (469–399 B.C.)