Sportingbet, a major online betting and gambling company, acquired the ParadisePoker.com, a major online poker casino.
Sportingbet buys ParadisePoker online casino for $300 million
Sportingbet, a major online betting and gambling company, acquired the ParadisePoker.com, a major online poker casino, according to a press release published at winningstreak.com. The deal will allow Sportingbet to expand its customer base by more than two million players.
Sportingbet said the companies have negotiated the initial price of the deal at $297.5 million.
Sportingbet itself today reported a turnover of $2.6 billion and an operating pre-tax profit of $40 million for the 16 months to July 31, 2004.
Sportingbet operates more than 30 brands in 200 countries across the world including its flagship brand, Sportsbook.com.
"Sportingbet's acquisition of ParadisePoker.com has a significant impact on both our company and the online betting, gambling and gaming market," said Alex Czajkowski, marketing director of Sportingbet Americas Region.
"Like Sportingbet's Sportsbook.com, ParadisePoker.com is a strong brand with a large and loyal customer base," he said.
ParadisePoker.com currently boasts over 720 thousand registered customers and 97 thousand active players. With strong site security, policies and independent auditors, it is a respected brand focused on integrity and quality.
Poker has become one of the world's most popular card games, with an estimated 50 to 80 million players in the United States alone.
Sportingbet is a leading online betting, gambling and gaming company, which since its creation in 1998 has helped to create a $6 billion industry and has itself grown to become a $2 billion turnover business.
Based in London, Sportingbet has a strong presence in the U.S., Europe and Australia, with 1.2 million registered customers in 200 countries. It has built a series of leading online brands in these key markets and offers a mix of sports betting, poker, casino and virtual games that traditional "bricks and mortar" operators cannot match. Sportingbet is listed on the London Stock Exchange.
Sportsbook.com, America's sports betting destination, is the flagship brand for the world's largest publicly traded online betting, gambling and gaming company, Sportingbet Plc. Sportsbook.com offers the largest online selection of sports betting, gambling and gaming.
