- This topic is empty.
-
Posts
-
LONDON, Nov 11 (Reuters) – British online gaming group Leisure & Gaming (LNG.L: Quote, Profile, Research) said on Friday it had agreed to buy two more companies in the sector for cash and shares.
The highly acquisitive company said it had agreed to buy Costa Rica-based Nine.com for an initial $36 million and Antigua-based English Harbour for an initial $16.5 million.
The cash element of the deals will be funded through a 24.4-million-pound
($42.68 million) share placing.The company’s shares closed at 141 pence on Thursday.
Leisure & Gaming was set up at the end of 2004 as a listed cash shell aimed at growing through acquisitions in the Internet gaming sector.
Its first acquisition in June was VIP, owner of VIPsports and VIPpoker, followed last month by the online casino business of one of Britain’s biggest casino firms Stanley Leisure (SLY.L: Quote, Profile, Research).
English Harbour, which was launched in 1997 as one of the first online casinos, also owns the Silver Dollar and Super Slots Casino brands.
Nine.com, which is licensed in Curacao and run out of Costa Rica, also owns the BetCom and MyBookie brands.
