Find Gambling Results – Online Casino Guide | Latest Gambling News
 

Unibet acquired a quarter share in Bingo.com in hopes of entering the US market

May 07, 2010 - by admin
Bingo Unibet

In anticipating of a potential opening of the US online gambling market, Unibet PLC has paid $2.25 million for a 25.9% share in bingo.com. The private placement comes shortly after bingo.com switched to Unibet’s online bingo and casino network. Unibet has also announced its intention to apply for a license to operate in France.

Wall Street Journal Market Watch: Bingo.com Closes $2,250,000 Private Placement from Unibet

Bingo.com, Ltd., owner of the online gaming site www.bingo.com, announced yesterday that it closed a private placement from Unibet Group plc, selling 15 million common shares at $0.15 apiece, raising net proceeds of $2,250,000. The placement represents 25.9% Bingo.com.

“Bingo.com is pleased to have secured a private placement from Unibet,” said Bingo.com’s CEO Tarrnie Williams. “With one of the World’s leading gaming operators as both an investor and operational partner, Bingo.com will now have the resources to support its brand in a number of emerging online bingo markets. We very much look forward to taking on a leading role in the expansion of online bingo worldwide.”

Unibet CEO Petter Nylander was equally positive. “Investing in Bingo.com, one of the strongest bingo brand names in the industry, is exciting for us. We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come. We look forward to growing our businesses together in existing and new markets.”

Unibet recently developed turn-key online gaming platform, offering partners to be part of their online casino and bingo network.

Business Wire: Unibet Group plc – Interim report January – March 2010

During the first quarter of 2010 Unibet Group plc saw continued growth in terms of gross winnings revenue as well as active customers. Their live betting offerings together with live event streaming and the Unibet Mobile platform have all been important driving factors in recent months.

April also shows very good figures, with average daily gross revenue up over the average daily gross revenue for the previous three months.

Unibet recently decided to apply for a licence to operate in France after the recent opening of their online gambling market. The exact terms of licences in the country have yet to be revealed, but 2010 earnings are not expected to be significant. This change in the regulatory situation renders the group’s financial goals for 2010 obsolete. Given the uncertainty regarding France, Unibet CEO Petter Nylande says it will be challenging to outperform 2009.

Lastly, in preparation for the possible opening of the US online gambling market, Unibet has acquired 25.9% of the NASDAQ listed company Bingo.com through a private placement of $2.25 million.

eGaming Review: Unibet wagers on legal US egaming with Bingo.com stake

UNIBET just acquired a quarter of NASDAQ-listed Bingo.com in hopes that the US online gambling market will soon open up once again.

The Swedish operator now owns a 25.9% stake in the business, acquired through a private placement for $2.25m. The move follows just two months after Bingo.com joined Unibet’s online bingo and casino network in March.

Petter Nylander, chief executive of Unibet, said: “We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come.”

Unibet also just announced its intention to apply for a licence to operate in the recently-opened French egaming market.

RECOMMENDED ONLINE BINGO ROOM
Play bingo with bgo Bingo!Visit bgo Bingo!

Visit bgo Bingo!

  • Weekly Reload Bonus
  • Great Gadget Giveaway
  • Claim 200% Max. £200 Deposit Bonus
  • 20% Cashback
  • bVIP Program
  • The Big Competition

TOP ONLINE BINGO BONUS Accepts US Players!
Play bingo at Bingo Hall!Play bingo at  Bingo Hall!

Play bingo at Bingo Hall!

  • $25 Free Trial
  • Claim 500% Deposit Bonus
  • Large Bingo Community
  • Daily, Weekly & Monthly Promotions