Bd Sport Acquired By Gaming Nation

By Casinomeister, Last updated Dec 16, 2016

For a total cash payment of GBP 8,800,000 and additional earn-out provisions

Toronto technology provider Gaming Nation has entered into an agreement with UK stadium betting provider BD Sport Group Ltd.
The acquisition, expected to close in March 2017, provides Gaming Nation with a portfolio that includes 100 percent of the shares of BD Sport Ltd., BD Stadia Ltd. and BD Deportes SL at a consideration of GBP 8,800,000 in total cash and additional earn out provisions which could potentially increase the total purchase price to GBP 11,000,000.
The purchase price represents an EBITDA multiple of 6.8 x LTM EBITDA (excluding any performance based earn out payments) and will comprise parents of 50 percent of the purchase price upon closing, 31.25 percent – 12 months following the closing and 18.75 percent – 24 months after closing.
"Gaming Nation and its Board of Directors firmly believe the acquisition of BD Sport will prove to be extremely accretive for our shareholders based on a multiple of factors including the attractive EBITDA to free cash-flow of BD Sport's businesses, the ability to work with the existing infrastructure of BD Sport in deploying Gaming Nation's 5050 Central business within the European market as well as the substantial growth opportunities into new stadiums that BD Sport can realize when combined with 5050 Central's electronic raffle system," Scott Secord, President and CEO of Gaming Nation said.

Online Casino News Courtesy of Infopowa

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