Sportingbet extis the Turkish market
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Sportingbet extis the Turkish market

After negotiations suspension with the bookmaker Ladbrokes, the reason for which were problems of Sportingbet company at the Turkish market, there is information about selling of the Turkish business for a huge sum of € 142,5 million.

The main buyer of this internet shop will be East Pioneer Corporation BV which belongs to GVC Holdings plc. A direct cause for selling of the Turkish business is the restrictions for online gambling in this country. As the director general of the company Andy McIver claims – Sportingbet will now be more concentrated on adjustable markets where the new legislation of online gambling was adopted. For the moment more attractive markets are Greece, Spain, Denmark against which Turkey is not displayed so favorably. Such a decision will allow the Sportingbet company invest into the new Australian market which is by the English the largest in the world. After the successful purchase of Centerbet bookmaker bureau, the British operator accepted another strategy for segments development. It is estimated that such step will lead to increase of income from 50% to the level of 70%.

It was mutually agreed that the whole sum of the transaction will be divided into monthly payments which the company GVC Holdings plc. will be paying out during the next 3 years. The first payment has to be made in January of 2012, just after the end of the negotiations. Reports about the selling of the Turkish business favored the growth of share prices by 2,58% to the level of 39,75 p.