B90 to buy Entercreation’s online sportsbook and casino unit

B90 Holdings will acquire Entercreation Limited’s Spinbookie.com online sportsbook and casino.

UK.- Isle of Man-based online marketing and operating company B90 Holdings has reached an agreement to acquire Entercreation Limited’s online sportsbook and casino unit. It will acquire the operations, domain and business IP of Spinbookie.com.

B90 will initially pay 8.6 million in new ordinary shares of nil par value, followed by a further 8.6 million shares if Sportbookie’s net gaming revenue exceeds a cumulative amount of €500,000 in the first 12 months post-acquisition.

The value of the consideration stands at £381,500 based on the closing mid-market price on December 21. The maximum consideration payable is £881,500 assuming the issue of the earn-out shares as £1,763,000.

Spinbookie’s operations cover both sports betting and casino, with the latter including products from gaming providers including Microgaming and Evolution. Both divisions will be overseen by B90’s existing Bet90 operational team. 

B90 has already arranged marketing agreements with the aim of driving traffic to Spinbookie, including deals with Nordic Group and its takeover of the Oddsen.nu affiliate website.

It said Spinbookie, which uses BetConstruct’s betting software platform and under a Curaçao licence, will operate in ‘complementary markets’, focusing particularly on expanding in South American jurisdictions. 

Karim Peer, B90 non-executive chairman, said: “The acquisition of Spinbookie continues the development of our business. As the consideration is being paid in shares, the team is incentivised to drive future growth and profits by establishing a larger customer base.

“We believe this is a good acquisition for the Company as it is planned to accelerate our timeline to profitability, as well as adding a valuable new domain to our online real estate.

“By utilising our recently signed affiliate deal with Nordic Group, as well as our other, well established direct to customer marketing initiatives, we will introduce the Spinbookie brand into new and different markets, facilitating more growth and accelerating customer acquisition.”

See also: Dutch govt promises action on Curaçao gambling operations