(PRESS RELEASE) -- Following the satisfaction of conditions precedent, Unibet Group has today finalised the acquisition of 100% of the shares of iGame Holding and its subsidiaries, collectively “the iGame Group”. The iGame Group is a specialist gambling operator with focus in the Nordics and Central Europe offering online casino, poker and sports betting through seven local brands.
The acquisition price of €59 million has been paid as cash up front today. Earn-out payments may be payable based on the iGame Group’s results for the period up to June 30, 2016. The earn-out payments will be calculated on a multiple of 6.2 times EBITDA up to a cap of €20 million including an element for over-performance.
Unibet Group will consolidate the online gambling business of the iGame Group as from today in its results.
The iGame Group will continue to trade under the existing brands and its customers need take no action as a result of today’s announcement.
In order to finance current projects and allow flexibility for future investment, the Unibet Group has secured a new credit facility for €120 million, replacing the previous €50 million credit facility.