WORLD GAMING PLC
(AIM)
(" World Gaming" or " the Group" )
COMPLETION OF ACQUISITION
The Board of World Gaming is pleased to announce that it has today completed the
acquisition of the SPORTSBETTING.COM Group.
All conditions required to be met prior to completion have now been met.
Funding for the acquisition includes a $40 million term loan from Barclays PLC
plus the previously announced placing of shares to raise £6 million for the
Group before expenses. In addition, Barclays has provided a revolving facility
of up to $5 million.
Commenting on the acquisition, World Gaming CEO, Daniel Moran said: " The
acquisition of the SPORTSBETTING.COM Group is a significant extension of the
World Gaming Group's business. The limited integration plus the strong proven
growth makes this acquisition an ideal fit for continued organic and
acquisitive growth of the Group."
Jamie Grant, Director Barclays Leveraged Finance commented: " We at Barclays are
very pleased to support World Gaming Plc in this strategic acquisition. The
compelling business proposition and the enthusiasm of the management team
ensures that World Gaming is now well placed to further leverage its business
assets, and benefit from future market growth. "