March 2nd, 2012

This Tuesday, Unibet, one of the leading online gambling groups of Europe has finalized their acquisition of Betchoice after obtaining the approval of ANTRC (Australian Northern Territory Racing Commission). Unibet group has signed the agreement with cash consideration of approximately GBP 13 million or AUD 20 million on debt free cash.

Moreover, founder Chairman, Mark Morrissey would have an earned out, along with 38% of shareholder depending on EBITDA of 2014 in Australia. In addition, the company has to pay further amount of AUD 2 million to some of the shareholders, in case EBITDA of Australia gets increased to AUD 4.4 million. According to Mark Morrissey, “We would pay thanks to the swift processing of our licensing authority, which implies we would obtain immediate access towards regulated online gambling market of Australia. In fact, the acquisition of Betchoice has proved to be a strong basis for us to have huge market share in Australia.”