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The Stars Group Agrees to Acquire BetEasy Minority Interest; Settles Performance Payment

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The Stars GroupThe Stars Group Agrees to Acquire BetEasy Minority Interest; Settles Performance Paymentand Penn National Gaming Enter Agreement for Online Betting and Gaming Market AccessReading Time: 2 minutes

 

The Stars Group Inc. announced that it has agreed with the minority shareholders of BetEasy, its Australian-based sports betting business, to acquire the remaining 20% interest in the company for AUD$151 million. As part of this agreement, The Stars Group also agreed to pay AUD$100 million to settle the previously disclosed performance payment under the agreements for its 2018 acquisition of the initial 80% interest.

“I’m delighted to reach this agreement for our BetEasy business,” said Rafi Ashkenazi, Chief Executive Officer of The Stars Group. “The launch of BetEasy through our acquisitions of CrownBet and William Hill Australia in 2018 created one of the leading operators in Australia and increased our exposure to a high-growth regulated market. Matt Tripp’s entrepreneurial spirit and vision has guided BetEasy since he founded the business and we are glad he will oversee the transition as non-executive President,” concluded Mr Ashkenazi.

The Stars Group currently expects to complete the minority acquisition within 90 days following the earlier of either the issuance of The Stars Group’s audited financial statements for the year-ended December 31, 2020 or the completion of the previously announced board-recommended all share combination of The Stars Group with Flutter Entertainment Plc. The purchase price will be settled in cash unless it follows the completion of the combination, in which case Flutter may elect to settle in cash, Flutter ordinary shares or a combination of the same.

In addition to the acquisition of the remaining interest, The Stars Group will settle the performance, or earn-out, payment to the minority shareholders for AUD$100 million. The performance payment, which could have reached AUD$232 million, was subject to certain performance conditions primarily related to BetEasy’s EBITDA.

Also as part of the agreement, The Stars Group will repay AUD$56.9 million of outstanding BetEasy minority shareholder loans.

Matt Tripp, BetEasy’s CEO, will provide ongoing leadership as the non-executive President of BetEasy beginning January 1, 2020, with Andrew Menz, who previously served as BetEasy’s Director of Strategy & Regulatory Affairs, as his successor in the CEO role. Mr Menz was previously the Legal and Corporate Affairs Director of Betfair Australia and was at the forefront of the establishment of Responsible Wagering Australia, a key group for Australia’s online wagering industry.

“I’m pleased to see our long-term succession plan come to fruition.  Andrew Menz brings deep commercial and regulatory experience which leaves BetEasy in a strong position to continue delivering profitable growth,” said Matt Tripp. “I know that this business, which we founded back in 2013, is in very capable hands with a strong executive team and the backing of The Stars Group, who have been terrific partners and global leaders in this industry,” he concluded.

 

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: The Stars Group Agrees to Acquire BetEasy Minority Interest; Settles Performance Payment

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Metric Gaming provides Sportsbook to ManiSol Gaming

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Metric Gaming confirms sportsbook launch for InAndOutBet.com, ManiSol Gaming’s Northern European focussed Pay N Play® casino and sports betting brand.

Through a 2019 partnership with Together Gaming, InAndOutBet.com’s customers benefit from some of the best casino game and content providers in the industry with the convenience of instant, hassle-free deposits and withdrawals. Metric’s modern sportsbook proposition is an exciting addition to a brand that is looking to do things differently.

Speaking about the successful launch, Metric Gaming’s CEO Martin de Knijff said:

“We have been impressed by the whole ManiSol team from the start. We are excited about the potential of InAndOutBet and grateful for the trust ManiSol have shown in us and our product to deliver an important vertical for their growth plans.

This launch, our first full sportsbook, is a significant milestone for Metric and we are eager to showcase our unique capabilities. InAndOutBet will benefit from a best-in-class sportsbook proposition that will be fully localised in each country the brand operates, with negligible incremental costs for each new configuration.

Crucially, this includes pricing autonomy for every market, every selection on the sportsbook. This is so important for international brands these days due to the conflicting taxation rules introduced internationally. This will be a significant competitive advantage over their rivals, and we’re excited to have the opportunity to contribute to ManiSol’s success.”

Erik Gilstring, COO at ManiSol Gaming added:

“At first, we were unsure of using an untested sportsbook product. However, once we met the team at Metric and saw the capabilities of their products, we were excited to have access to this new technology.

We are confident we have secured the most modern sports betting product available on the market for our customers and are pleased to have added another high quality, innovative vertical to our growing brand.”

Metric Gaming is licensed and regulated by the UK Gambling Commission and holds a Class 4 Gaming Licence from Malta’s Gaming Authority.

For more information please visit www.metricgaming.com

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Metric Gaming provides Sportsbook to ManiSol Gaming

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Prague Gaming Summit 2020 moderator profile: Zlatan Omerspahić (Head of Legal and Compliance, Data Protection Officer at NSoft) 

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The 4th edition of the Prague Gaming Summit will take place on 6 March 2020 and welcomes leading operators, service providers and gambling industry experts from all across Europe.

 

On the 6th of March at the Prague Gaming Summit, you have the opportunity to dive into several subjects, among which also the Gambling And Casino Games Via Social Media And Online Technologies (Large Room: Opal, Topaz, Quartz)”.

As mentioned in earlier press releases, will bring a brand new format of speeches and more trending themes as it did in the early years.

Among the leading experts that will share their latest information, you have the opportunity to hear more about the sports betting industry from Zlatan Omerspahić – NSoft, who will also be moderating the panel.

Zlatan Omerspahić has a Ph.D. in Commercial law, Corporate governance, Contract law, Regulatory issues and is currently serving the role of Data Protection Officer at NSoft.

He has graduated the Faculty of Law at the University of Zenica and has held several compliance-related roles at Sberbank and Hypo Alpe-Adria-Bank.

He is responsible, loyal, dedicated and eager to learn about innovative things.

Just recently, Zlatan has been shortlisted at the Global Regulatory Awards 2019 in the category: Data Protection Officer or Team of the year.

 Do not miss this unique opportunity to learn and networking with the leaders of the industry.

Order your Delegate Pass or VIP Package (Delegate Pass +Accommodation) now!

Here is a testimonial that has been left by Tal Zamstein, one of the attending delegates of the 2019 edition of Prague Gaming Summit:

It was great to have the operators and suppliers with the presence in the CEE territories under one roof. It is always very useful to discover the challenges and see the trends of the industry in the newly regulated markets.

Tal Zamstein

Group Head of Gaming at Fortuna Group

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Prague Gaming Summit 2020 moderator profile: Zlatan Omerspahić (Head of Legal and Compliance, Data Protection Officer at NSoft) 

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1xBet becomes the title partner of NAVI

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1xBet, one of the leading betting platforms in the world, became the title partner of our esports club. The cooperation agreement is expected to last for 1 year and will be valid until December 31, 2020.

If I had only recently been told that NAVI would work with 1xBet, one of the largest betting companies in the world, a partner of such an iconic club as FC Barcelona is, ​​I would not believe it. Now it has become a reality and the partnership between Natus Vincere and 1xBet inspires us incredibly. Welcome to #navination! – said, Yevhen Zolotarov, CEO Natus Vincere.

The agreement provides 1xBet support for NAVI teams in various esports disciplines. We plan to create a number of powerful marketing activities and campaigns with 1xBet for our fans.

1xBet is an international gaming betting company with over 12 years of experience in the industry and has offices in Europe, Asia, Africa and Latin America. Previously, the company entered into agreements with a number of well-known organizations, including the Spanish La Liga, the Italian Serie A, and the FC Barcelona.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: 1xBet becomes the title partner of NAVI

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