This week brought the news that Stan James has been sold to Unibet for GBP 19 million and includes full rights to the Stan James brand.
On Friday Unibet chief executive officer Henrik Tjärnström said that the acquisition will increase Unibet's presence in the UK with Stan James' reputation in the horse racing and sports market.
“Stan James has had a long presence in the British market, where there are few companies of this size available for acquisition," he said.
A Unibet statement said:
“The transaction will significantly strengthen Unibet's position in the large UK online market which is estimated to be worth around GBP 2.7 billion in 2015 according to H2 Gambling Capital and thus is one of the largest on-line markets globally that has already re-regulated with attractive terms and conditions.
"The acquisition price of GBP 19 million is payable fully in cash and will be adjusted for customer liabilities that Unibet will take over on completion.
"Stan James has approximately 150 employees based in Gibraltar. In line with standard EU rules on the acquisition of a business, the employees will transfer their employment to Unibet.
"In the five month period to 31 May 2015, the GWR of Stan James online business was GBP 10.5 million and the EBITDA, after charging UK point of consumption tax, was GBP 1.4 million. On an annualised basis the acquisition multiple is therefore around 6 times 2015 EBITDA, without taking account of any future synergies from the transaction.
"Such synergies can consist of more effective marketing and economies of scale associated with third-party procurement of products. For the second quarter of 2015, the number of quarterly active customers amounted to 84,266.
“Since Unibet has only recently targeted the UK market there is little overlap between our respective businesses," said Tjärnström. "Over time we see a significant potential to increase the breadth of the Stan James product range, such as live streaming, casino and improving the mobile offering.”
Denis Kelly, CEO of Stan James Online said, “We are delighted to join the wider Unibet group. There is a substantial market opportunity in the UK following the re-regulation. Through the combination of Unibet's expertise in marketing and financial strength, together with Stan James' high quality sports and racing betting offering aimed at the UK market, I am confident that we can increase substantially the combined Group's market share in the UK.”
Alexa Alexa 8 years ago
Unibet is becomng one of the best companies for the betting in the world.With buying of Stan James,they will develope more,there is no doubt about that.British market is vey big and it is very smart to invest on your offer at this market.Also,I think that Stan James bosses will be pretty satisfied with the money they have...
Unibet is becomng one of the best companies for the betting in the world.With buying of Stan James,they will develope more,there is no doubt about that.British market is vey big and it is very smart to invest on your offer at this market.Also,I think that Stan James bosses will be pretty satisfied with the money they have got.
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sharpe 8 years ago
This deal shows Unibet's development as a company and the growing of it. Stan James was one of the oldest and popular bookies on the British market but obviously they can't compete with the monsters new sports book giants at the market. Unibet is definitely one of them and now the companiy will be stronger than ever on...
This deal shows Unibet's development as a company and the growing of it. Stan James was one of the oldest and popular bookies on the British market but obviously they can't compete with the monsters new sports book giants at the market. Unibet is definitely one of them and now the companiy will be stronger than ever on the British market.
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