Der Punkt ist: betbull ist mit einem schlag ein normaler wettanbieter geworden mit einem Wettumsatz von €51.7m (2004).
Rechnet man ca. 30% steigerung (eigene schätzung) für 2005, dann kommt man auf ca. €70 Mio. Wettumsatz in 2005...
das ganze wird hauptsächlich stationär abgewickelt, daher deutlich bessere Margen als bei einem reinem Online-Wettanbieter!
BETBULL ist damit größer als bet-at-home und sportwetten.de zusammen!
LONDON – (PRESS RELEASE) -- betbull has agreed to acquire 100% of the Leip Group, one of Germany's leading retail bookmakers. The agreement is subject to several conditions precedent and expected to become effective on October 1st. This landmark deal is a cornerstone in betbull's move to establish itself as a leading Continental European retail betting player.
In the year ended 31 December 2004 the Leip Group's (unaudited) accounts showed a profit before tax of EUR1 million (EBITDA EUR 1.4 million) on bets placed of EUR51.7 million and revenue of EUR8.1 million. Overall, the Leip Group accepts bets from over 80 retail shops and operates its own high street outlets under the "Wettenleip" brand. The year 2005 to date unaudited results for the Leip Group indicate strong growth both in terms of revenue and profits.
The Directors believe that the Leip Group together with betbull has the expertise, personnel, outlets, licenses, and scale to quickly grow in the German retail betting market and to realise imminent opportunities in other Continental European countries. Alexander Leip, founder of the Leip group, will join betbull's Board of Directors as an executive and remain Managing Director of the Leip group.
The plan is to grow the retail betting business through the opening of new shops, the introduction of new products and systems and acquiring and integrating other retail betting businesses as appropriate.
The total purchase price consideration consists of EUR10.0 million and 700,000 betbull ordinary shares with customary lock up provisions. In addition, success based earn-out payments have been agreed upon subject to reaching ambitious hurdles over the next five years.
The expected closing of the transaction on October 1st entails a fund raising for betbull and is conditional, among other things, on the approval of betbull's shareholders, satisfactory auditor's reports on the interim statements of the Leip Group, and the approval of relevant Lotteries & Gaming Authorities. The extraordinary shareholders' meeting is scheduled for September 29th in London.
A more detailed account of the transaction is contained in the invitation to the extraordinary shareholders meeting which will be published on betbull's website Wednesday 7th September and will be given in the shareholders meeting itself.
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