World Gaming plc – (“World Gaming” or “the Group”) – Completion of acquisition

The Board of World Gaming is pleased to announce that it has 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 pnds stlg 6 million for the Group before expenses. In addition, Barclays has provided a revolving facility of up to $5 million.
Commenting on the acquisition, CEO, Daniel Moran said: “The acquisition of the SPORTSBETTING.COM Group is a significant extension of the 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 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.” 

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