MONACO INVESTMENT FOR SPORTSBET FIRM

28 November 2008

Hotel and casinos group puts up big money to get into online betting action

 

Mangas Capital Gaming, which owns 75 percent of the UK online betting firm Betclick, will be half owned by Monaco hotel and land casino group Société des Bains de Mer soon following a deal involving Euro 100 million in investment that will enable Mangas to make further European online gambling acquisitions. Mangas is known to be talking to Scandinavian sports betting firm Nordicbet which is likely to be the next target.

Company officials said it is anticipated that the deal will be closed before the end of 2008.

Société des Bains de Mer has been looking to expand its land gambling interests into the online sector for some time.