Cirsa acquires the other 50 % of Sportium to Ladbrokes for 70 M Euros
Friday 19 de July 2019 / 01:25
2 minutos de lectura
(Spain).- GVC Holdings, the UK company that owns Ladbrokes Coral, has announced an agreement to sell its 50% in Sportium Apuestas Deportivas to Cirsa, the Spanish gaming company controlled by the risk capital firm Blackstone.
The price of the operation, pending regulatory authorization, is 70 million euros. Cirsa will own the 100% of the capital. This way, it concludes a conflict on an arbitration court that faced two Sportium partners, a society that manages a network from a betting house in Spain, created in 2013 by Cirsa and Ladbrokes.
As informed by Expansión last May 7th, Cirsa had demanded an activation of a clause for change of control of Ladbrokes Coral, which was acquired in 2018 by GVC. That clause granted Cirsa the right to buy the 50% of its partner at a market price. Besides, Ladbrokes alleged that Cirsa has also changed control in 2018, when Blackstone acquired Manuel Lao company.
Despite starting the arbitration procedure, the two parties had maintained friendly talks to solve the issue. GVC aim after this operation is to focus on Internet gaming, through brands such as BWin. In the UK, the company is preparing a plan to close a great nombre of stores.
According to Kenneth Alexander, delegate council of GVC, "the sale of its share on Sportium will enable to simplify the business in Spain, where bwin is one of the online leaders. We have enjojed a good relationship with Cirsa and we are delighted to keep on supporting them through a new agreement as Sportium provider."
In 2018, Sportium contributed with 2,5 million pounds to GVC operational benefit . With a network of 3,000 stores, the Spanish network managed 753 million in bets in 2017, both on their stores and in Internet.
Categoría:Sportsbook
Tags: Sportium, Sports Betting, Sportsbook , Online Betting, CIRSA, Ladbrokes,
País: Spain
Event
SBC Summit Americas 2025
13 de May 2025
ProntoPaga Drives the Fintech Revolution with SmartPIX and SmartRouting in LATAM
(Fort Lauderdale, SoloAzar Exclusive).- Evans Concha, CTO and Founder of Pronto Paga, shared the main innovations launched this year and how they impact the regional fintech industry. With a firm commitment to new technologies and cybersecurity, the company is positioning itself as a leader in the sector. Discover how it is redefining the future of digital payments in this article.
Friday 13 Jun 2025 / 12:00
Pay4Fun consolidates its position as a 100% Pix Payment Gateway and expands its reach in LatAm
(Fort Lauderdale, SoloAzar Exclusive).- Pay4Fun strengthens its position as a 100% Pix payment gateway with direct integration with the Central Bank, guaranteeing maximum security and efficiency in transactions. At SBC Summit Americas, Leonardo Baptista highlights the role of networking and innovation in an environment where technology and regulation are key. Discover how Pay4Fun is shaping the future of digital payments.
Thursday 12 Jun 2025 / 12:00
Air Dice Revolutionizes iGaming with Nord Legends and Player Protection Technology
(Fort Lauderdale, SoloAzar Exclusive).- Air Dice presented its innovative Nord Legends line at SBC Summit Americas, combining Norse mythology with advanced game mechanics. The company is committed to AI and gamification to enhance the user experience. Read more about Air Dice's strategic focus and global growth in this interview with Rocio Moitino, Director for Latin America.
Wednesday 11 Jun 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.