Gaming VC buys Betboo

By David Malinsky 11 July 2009
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Gaming VC buys Betboo
The German casino operator bought the Latin American bookmaker Betboo for an initial $4m in cash and future payments in profit-related amounts.

The German casino operator and parent company of bookmaker Betaland acquired Latin American gambling site Betboo for an initial $4m in cash plus payments to be calculated from earnings in the next three years of up to $30m.
Betboo is understood to have around 3,000 customers located mainly in Brazil, who generated unaudited revenues of $4.4m for the 12 months to 30 June 2009.