Sportingbet announced the acquisition of two Danish sports betting firms—Danbook and Scandic Bookmakers—for up to £8.5 million. The deal, expected to be completed by early 2012, will boost the London-headquartered company’s sports betting, poker and casino businesses.
“These acquisitions emphasise Sportingbet’s commitment to generating revenue from regulated markets,” said Sportingbet Chief Executive Andrew McIver in a statement. “We have already demonstrated our ability to deliver strong growth in licensed territories such as Australia and we are excited by the opportunity that Denmark represents.”
The move comes two days after Ladbrokes ended takeover talks with Sportingbet because of regulatory concerns over the company’s Turkish business.
Sportingbet shares, which have lost nearly half their value over the past year, were up as much 2% on the London Stock Exchange.