Online Casino Buys Out Media Group
In a major business deal, a leading online casino sports betting broadcasting company will buy out a leading media group for as much as GBP 103 million. This business venture by the broadcasting company is to help expand its presence in online casino sports betting. In a world where companies buy each other out on a daily basis, having this happen in the world of sports betting and online casinos is hardly unusual.
The online casino broadcasting company offered to pay 68 pence in cash for each of the media group’s shares. The offer from the Isleworth, England-based online casino group is a 6.3 percent premium to the media company’s closing price yesterday of 64 pence. A purchase of the Leeds, England-based media group boosts the online casino offerings in sports gaming and betting for the broadcasting company. This is a major addition and success for sports betting company.
This business acquisition makes perfect sense to many because of the more than 9 million monthly users which visit online casino sports betting sites operated by the media group, has mobile distribution deals for its content, which supports the online casino group’s approach to delivering content. This is a company that is looking into the future of the online casino industry and operating in a way that will allow it to stay on top in the industry by offering the latest type of gaming – mobile gambling.
Business deals are made every day in all markets, and many of them take place within the online casino industry. This fairly young industry and market has grown exponentially over the past few years and doesn’t seem to slow down, no matter what is thrown its way. With the Unlawful Internet Gambling Enforcement Act in effect, online casino groups seem more determined than ever to make sure that they continue operating and offering top online gambling, regardless of losing the US market and online casino player base.