GVC completes acquisition of Sportingbet

RNS Number : 3755A

GVC Holdings PLC

19 March 2013

 



Press Release

19 March 2013

GVC Holdings PLC

("GVC" or the "Group")

GVC completes acquisition of Sportingbet

GVC Holdings PLC (AIM:GVC), a leading provider of B2B and B2C services to the online gaming and sports betting markets, is pleased to announce that the Group has today completed the acquisition of Sportingbet plc.  The acquisition was made as part of a recommended offer for Sportingbet by GVC and William Hill plc.  William Hill plc has acquired Sportingbet's Australian business and has been granted a call option over Sportingbet's Spanish business.

Kenneth Alexander, Chief Executive Officer of GVC Holdings plc, commented: "The acquisition of Sportingbet is a transformational deal. It consolidates GVC's position as one of the leading operators in these markets and should provide scope for considerable growth.

"Over the next 18 months, the GVC Board will be focused on integrating and restructuring the Sportingbet business and leveraging its market leading sportsbook platform and trading team.  We look forward to working with our new colleagues and believe that the Enlarged Group has an exciting future."

It is expected that admission of the Existing GVC Shares will be cancelled and that the Enlarged Issued Share Capital of GVC will be re-admitted to AIM at 8.00 a.m. on 20 March 2013.  Dealing in GVC Shares is expected to commence on AIM at 8.00 a.m. on 20 March 2013.

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For further information:

GVC Holdings PLC
Kenneth Alexander, Chief Executive Officer	Tel: [phone]
Richard Cooper, Group Finance Director	www.gvc-plc.com

Daniel Stewart & Company Plc	Tel: [phone]
David Hart / Paul Shackleton / James Felix	www.danielstewart.co.uk

Media enquiries:

Abchurch
Henry Harrison-Topham / Shabnam Bashir	Tel: [phone]
[e-mail]	www.abchurch-group.com

About GVC Holdings PLC

GVC Holdings PLC is a leading provider of B2B and B2C services to the online gaming and sports betting markets.  The Group is headquartered in the Isle of Man and is licensed in Malta, and the Netherlands Antilles.

Further information on the Group is available at www.gvc-plc.com

 

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