Update on potential sportsbook acquisition

RNS Number : 9364T

Veltyco Group PLC

09 July 2018

 

9 July 2018

Veltyco Group PLC

("Veltyco", "the Company" or the "Group")

Update on potential sportsbook acquisition

As announced on 1 February 2018, the Company entered into an exclusivity period regarding the potential acquisition of Ruleo Alpenland GmbH ("Ruleo"), a company that operates the BTTY branded sportsbook in Germany and Austria.  

Following the completion of due diligence by Veltyco and recent developments regarding the German licence program that could impact on BTTY going forward, the Veltyco Board has decided to terminate the negotiations with Ruleo and will now not pursue the acquisition of BTTY.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please contact:

Veltyco Group Plc                                                           [phone]

Melissa Blau, CEO

Marcel Noordeloos, CFO

Strand Hanson Limited (Nominated Adviser)            [phone]

James Harris / Richard Tulloch / James Dance

Whitman Howard Ltd (Broker)                                     [phone]

Francis North / Nick Lovering

IFC Advisory (Financial PR & IR)                                 [phone]

Graham Herring / Miles Nolan / Zach Cohen

About Veltyco

Veltyco is a group of companies focused on generating marketing leads and entering into marketing contracts for the activities of various partners in the gaming industry as well as operating its own brands.  Veltyco focuses on complementary activities under one umbrella, leveraging its historical cash generative activities of marketing online casinos and sports betting.

Website: www.veltyco.com

 

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