Following the completion of the deal, Alexander Leip, founder of the homonymous chain of German betting shops, has joined Betbull\’s Board of Directors as an Executive Director adding another 17 years of retail bookmaking experience to the Board.
In connection with the acquisition Betbull issued 1,250,000 new ordinary shares at a price of EUR6 per share amongst international institutional and private investors.
Simon Bold, COO of Betbull said Leip\’s presence across Germany will give the extended group a massive “footprint” in both the German horse racing and sports betting markets ahead of the 2006 soccer World Cup.
“This was just the first step in our endeavor to capitalize on the Continental European Retail Betting opportunity,” added Gunter Schmid, CEO of Betbull. “Upon closing the acquisition of the Leip Group we are already following up on other leads.”
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