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SUN INTERNATIONAL INTERESTED IN POWERBET GAMING
13th May, 2013 at 12:28:53
Online sportsbetting on the agenda for prominent South African hospitality group
South African listed hotel and gaming group Sun International has announced the proposed acquisition of online fixed-odds sports betting operator Powerbet Gaming (PBG), which owns and operates Voltbet.com, during its third quarter results report.
The group said it has identified online sportsbetting as a fast growing sector within the gaming industry and sees synergistic opportunities between it and its other terrestrial gaming interests.
"Powerbet provides the ideal platform to accelerate the group's entry into the online gaming market," said a company statement.
Sun International has proposed the acquisition of 100% of Purple Capital's Gaming Interests' issued share capital and shareholder loan accounts for a consideration of R30 million in cash (US$3 278 880).
Purple Capital Gaming Interests comprise Powerbet Gaming Limited, the software developed and operated by PBG, the associated licence issued by the Western Cape Racing and Gambling Board and Purple Gaming Limited which holds a bookmaking licence in Tanzania.
Related News Tags: South Africa
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