Betbull Sells Italian Subsidiary

20 August 2008

Betbull has announced the sale of its Italian subsidiary company for 560,000 euros. The betting exchange company purchased the subsidiary, which holds four betting licenses and has one leasehold property, for 320,000 euros in 2007.

“We have taken the decision to curtail our interests in the Italian market for a number of reasons -- primarily we have found the opportunities to be very restricted and the effort and resources necessary to achieve a presence would be better applied to our core areas,” Simon Bold, director of Betbull, said in a prepared statement.

“We are happy to have realized a small profit on the sale of our investment and will make the funds from the disposal available for the further development of our businesses in Germany and Spain,” he said.