The board of the online gambling software developer announced that all the pre-conditions required have now been met and the company has received a $40 million term loan from Barclays PLC to fund the acquisition.
“The acquisition of the Sportsbetting.com Group is a significant extension of the Group\’s business. The limited integration plus the strong proven growth makes this acquisition an ideal fit for continued organic and acquisitive growth of the Group,” said Daniel Moran, World Gaming Chief Executive.
In separate news, DM PLC, an AIM listed direct marketing group specialized in response orientated competitions, has acquired the entire issued share capital of online gambling company Cyberdyne Entertainment for £150,000 in a cash and shares deal.
Bristol-based Cyberdyne specializes in receiving fixed odds bets upon the outcome of lotteries from around the world at its websites, which include lotteryuniverse.com, sportsgrids.com and instalot.com.
The company has a client base of approximately 33,000 customers and during 2004 it reported a pre-tax profit of £55,000.
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