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
GAT EXPO CARTAGENA 2025
28 de April 2025
Colombian Olympic Committee, GAT Expo, and Colombian Official Esports Announce Historic Partnership to Promote Esports as an Olympic Discipline in Colombia
(Cartagena) - The Colombian Olympic Committee (COC) and GAT Esports have sealed a strategic partnership to promote esports as part of the country's professional sports ecosystem. The announcement was made at a formal ceremony held at the gaming industry products and services exhibition hall, attended by Marco Emilio Hincapié, President of Coljuegos, COC executives, José Aníbal Aguirre, CEO of GAT Esports, media, and special guests.
Wednesday 30 Apr 2025 / 12:00
GAT Expo 2025: Novelties, technology, innovation, and high-level networking in the magical city of Cartagena
(Cartagena, SoloAzar Exclusive).- Today concludes GAT Expo Cartagena 2025, which has taken place this week with the presence of 23 countries and more than 70 international brands in the historic city of Cartagena de Indias, with its cobblestone streets, flower-filled balconies, and centuries-old walls.
Wednesday 30 Apr 2025 / 12:00
Successful Start to GAT Expo Cartagena 2025, Which Continues with Two Days of Gaming Sector Exhibitions
(Cartagena, SoloAzar Exclusive).- Perfect attendance and strong performance were the highlights yesterday at the GAT Academy conference series at the start of GAT EXPO Cartagena, which continues today and tomorrow with the exhibition of products and services from important companies in the gaming sector, both traditional and online.
Tuesday 29 Apr 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.