Sportsbetting.com is acquired by World Gaming Plc.
21 December 2005

More and more online casino groups are looking for ways to improve their business. Some of the ways include creating new gambling websites, implementing new bonuses or games, or floating on the stock market. However, another way companies look to increase their profits is through attaining another company. Such is the case of World Gaming Plc and Sportsbetting.com.

It was recently announced by the board of World Gaming Plc, that they have attained the Sportbetting.com Group in a business move that is anticipated to increase their revenue and profits. According to the CEO of World Gaming, Daniel Moran, the attainment of the Sportingbet.com Group is an important development of World Gaming’s business. The limited integration as well as the sturdy growth that has been proven, is what makes the attaining of the Group an ideal part of World Gaming’s Growth as a business.

In order for this deal to go through, World Gaming Plc had to borrow a $40 million dollar loan from Barclays Plc. Not only that but they also had to previously declare the pricing of shares to increase £6 million pounds. Furthermore, Barclays Plc has also given a “revolving facility” of as much as $5 million dollars for the attainment.

The director of Barclays Leveraged Finance, James Grant, commented on the deal and said that the business proposition and the interest shown by the management team is what has ensured the success of the World Gaming Group. Grant went on to say that World Gaming is now in a position to add even more leverage to their business assets and can benefit from market growth and development in the future.