SBT Sportingbet

TIDMGVC TIDMSBT

RNS Number : 3755A

GVC Holdings PLC

19 March 2013

 
 Press Release   19 March 2013 
 

GVC Holdings PLC

("GVC" or the "Group")

GVC completes acquisition of Sportingbet

GVC Holdings PLC (AIM:GVC), a leading provider of B2B and B2C services to the online gaming and sports betting markets, is pleased to announce that the Group has today completed the acquisition of Sportingbet plc. The acquisition was made as part of a recommended offer for Sportingbet by GVC and William Hill plc. William Hill plc has acquired Sportingbet's Australian business and has been granted a call option over Sportingbet's Spanish business.

Kenneth Alexander, Chief Executive Officer of GVC Holdings plc, commented: "The acquisition of Sportingbet is a transformational deal. It consolidates GVC's position as one of the leading operators in these markets and should provide scope for considerable growth.

"Over the next 18 months, the GVC Board will be focused on integrating and restructuring the Sportingbet business and leveraging its market leading sportsbook platform and trading team. We look forward to working with our new colleagues and believe that the Enlarged Group has an exciting future."

It is expected that admission of the Existing GVC Shares will be cancelled and that the Enlarged Issued Share Capital of GVC will be re-admitted to AIM at 8.00 a.m. on 20 March 2013. Dealing in GVC Shares is expected to commence on AIM at 8.00 a.m. on 20 March 2013.

- Ends -

For further information:

 
 GVC Holdings PLC 
 Kenneth Alexander, Chief Executive       Tel: +44 (0) 20 7398 
  Officer                                                 7702 
 Richard Cooper, Group Finance Director        www.gvc-plc.com 
 
 
 Daniel Stewart & Company Plc              Tel: +44 (0) 20 7776 
                                                           6550 
 David Hart / Paul Shackleton / James   www.danielstewart.co.uk 
  Felix 
 

Media enquiries:

 
 Abchurch 
 Henry Harrison-Topham / Shabnam Bashir     Tel: +44 (0) 20 7398 
                                                            7702 
 henry.ht@abchurch-group.com              www.abchurch-group.com 
 

About GVC Holdings PLC

GVC Holdings PLC is a leading provider of B2B and B2C services to the online gaming and sports betting markets. The Group is headquartered in the Isle of Man and is licensed in Malta, and the Netherlands Antilles.

Further information on the Group is available at www.gvc-plc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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