German Sportsbetting Group Up For Sale?

GERMAN SPORTSBETTING GROUP UP FOR SALE?

29th September, 2015 at 14:44:27
Source: http://www.azonlinecasinos.com

Reports that Tipico owners are looking for buyers.

The four entrepreneurs who founded German online sports betting group Tipico have reportedly engaged JP Morgan and Rothchild to find possible buyers for the company, the Wall Street Journal reported Tuesday.

The publication speculates that the new European gambling rules are driving an urge to merge in the online gambling industry, citing the recent mega-deals involving GVC-Bwin and Paddy Power-Betfair.

The owners apparently are betting that the company's rapid growth will make it an appealing acquisition for private equity groups or industry majors like Amaya, 888 Holdings or William Hill.

Based on valuations of its U.K. rivals, Tipico might fetch between Euro1 billion to Euro 1.5 billion, WSJ surmises.

Tipico is Germany's largest privately-owned sports betting company with around Euro 500 million in net revenue or Euro 2.5 billion in processed bets annually

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