Unibet Group has purchased online gambling operator Stan James Group for ?19 million.
Unibet gets full rights and ownership of the brand, but the sale does not include the UK shops business operated under the Stan James brand.
The transaction is subject to regulatory approvals and is expected to be finished before the end of this year’s third quarter.
The purchase could strengthen Unibet’s position in the UK online market. The acquisition price of £19m is payable fully in cash and will be adjusted for customer liabilities that Unibet will take over on completion, the company announced.
Stan James has approximately 150 employees based in Gibraltar.
“We have long been looking at strengthening our position in the UK online market. Stan James as an operator is one of the most well-respected in the UK market with particular strengths in horse-racing and other British sports,” said Unibet CEO Henrik Tjärnström. “Stan James has had a long presence in the British market where there are few companies of this size available for acquisition. Since Unibet has only recently targeted the UK market there is little overlap between our respective businesses. 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.”
