Unibet buys Betchoice

Nifty29

Dormant account
Old news but it wasn´t approved before.

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I don´t know if this makes it easier for me to bet on horses down under but I hope so.
I didn't realize it was difficult to place s bet on races over here from Europe. I'd have thought there would be some money in it given all the big races we have.

What's the issue? Is it just lack of bookies that offer Aussie action?

If you have a bet you really want to make I could lay them here for you on the odd occasion. I have some bookie accounts locally and I could probably get better odds than overseas. You can always PM me if you're stuck for options.

Thanks for the link too :thumbsup:
 

maphesto

Dormant account
I like to bet on combinations at Unibet. 3-5 out of 10 for example. Been a customer there for over 10 years and I started my account to bet on horses. They allow combinations on soccer, horses, hockey, wheather and what grandma whants for lunch.

Today for example, the only Harness racing I can bet on is from France, Sweden, Norway and Finland. More races means more opportunities to find useful combinations. It probably increases my chanses to lose.:lolup: Thanks for the offer btw.:)
 

rainmaker

I'm not a penguin
webmeister
CAG
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Thanks for starting this thread maphesto :thumbsup:


Just wanted to add a press release from 2012-02-07.

It gives a bit more information about how this will affect Unibet/Betchoice. For example does it say "Unibet intends to rebrand the platform from Betchoice to Unibet following a short transition period".


Unibet signs agreement to acquire Betchoice and enters the regulated Australian market​


Unibet Group plc today announces that it has signed an agreement to acquire 100 per cent of Betchoice Corporation Pty Ltd, one of Australia’s leading independent corporate bookmakers online. Betchoice operates a range of sports and racing betting products in the Australian market through its web site www.betchoice.com.

The transaction, which is Unibet’s second in a regulated market in recent months:
Provides access to the fast growing Australian online market;
Represents a solid platform from which to invest further and gain market share;
Positions Unibet well for the anticipated opening of live betting products in Australia at some stage in the future;
Provides Unibet with horse racing capability which can be leveraged further across the group

The initial acquisition price is AUD 20.0 million (GBP 13.6 million), on a cash free and debt free basis, payable in cash on closing. In addition, there is an earn-out for Mark Morrissey, founder, Chairman and 38% shareholder based on 5.5x 2014 EBITDA in Australia less the initial acquisition price who will remain with the business post completion. A further AUD 2.4 million in aggregate will be payable to ceratin other shareholders, if 2014 EBITDA in Australia exceeds AUD 4.4 million.

Completion of the transaction is subject to approval by the Northern Territory Racing Commission and is expected to take place before the end of the second quarter of 2012.

Unibet intends to rebrand the platform from Betchoice to Unibet following a short transition period.

Over the next two years, Unibet will invest significantly in improving the Australian product portfolio and in marketing to establish the Unibet brand in the fast growing Australian market. Applying the wider sports product range and risk management techniques within Kambi, Unibet’s B2B Sportsbook division, to Betchoice will improve Betchoice’s offering and financial performance. Kambi will also benefit from integrating Betchoice’s racing product within its portfolio.

As a result of the initial strategic investments to support future growth, Unibet does not expect the acquisition to have a significant financial impact on Unibet’s reported profits for 2012. The acquisition is not expected to impact the proposed dividend for 2011 to be announced in connection with the 2011 year end report.

Betchoice currently employs around 35 people in Australia who will be integrated into the Unibet team. Betchoice operates under a Northern Territory sports bookmaking licence and has offices in Darwin and Sydney.

“This strategic acquisition gives Unibet immediate access to the regulated Australian market, which is currently open to sports betting and horse racing. We intend to rebrand the business quickly to Unibet. Betchoice already has a strong offering and market position in horse racing and through Kambi, Unibet has the opportunity to enhance the quality and performance of Betchoice’s sports betting offering and so to deliver revenue growth and margin improvements,” says Henrik Tjärnström, CEO Unibet.

“In addition to benefit from the already existing Australian product offering, the acquisition of Betchoice will provide Unibet with a platform to facilitate other gambling services and opportunities should market conditions continue to improve.”

Mark Morrissey, co-founder and Chairman of Betchoice says, “We are delighted to become part of the wider Unibet group. There is a substantial market opportunity in Australia and with Unibet’s expertise in marketing and risk management, together with its market-leading sports betting offering, I am confident that we can increase substantially our market share and establish Unibet as one of the leading brands in Australia.”
 

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