Online Casinos Leader Acquired by World Gaming Board

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Online Casinos Archive » Online Casinos Leader Acquired by World Gaming Board

Online Casinos Leader Acquired by World Gaming Board

18 Dec 2005

Sportsbetting Group, an operating group of online casinos sports betting sites, was recently acquired by The Board of World Gaming. The acquisition funding included a $40 million term loan from Barclays plus the previously publicized shares placing to raise GBP 6 million. This was to be raised for the group before expenses. Additionally, Barclays has given revolving facility of up to $5 million to the online casinos group.

'We at Barclays are very pleased to support World Gaming in this strategic acquisition. The compelling business proposition and the enthusiasm of the management team ensure that World Gaming is now well placed to further leverage its business assets, and benefit from future market growth,' said Jamie Grant, Director of Barclays' Leveraged Finance. This move will surely help the online casinos sports betting leader get ahead in the online casinos industry.

In the world of online casinos, it is common for stronger operators and companies to buy out less substantiated ones. This is one example of online casinos acquisitions. With the growth of this market, more and more buyouts are expected. Only time will tell what the future holds for these online gambling portals.

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