Unibet Group has completed the acquisition of Betchoice Corporation.
Following the approval by Australian Northern Territory Racing Commission on Tuesday, Unibet Group has finalised the acquisition of 100 per cent of the Australian company Betchoice Corporation.
The acquisition price is A$20m (£13.6m), on a debt-free, cash-free basis, which was paid as cash up front yesterday. In addition, there is an earn-out for Mark Morrissey, founder, chairman and 38 per cent shareholder, who will remain with the business post completion. The group has now consolidated Betchoice in its results.
“We are grateful for the licensing authority’s swift processing which means that we get immediate access to the regulated Australian online market. The acquisition provides us with a basis to grow market share in Australia and means that Unibet’s gross winnings revenue proportion from re-regulated markets will increase,” commented Henrik Tjärnström, CEO of Unibet.
