Home / Gambling / Business News / 500.com has bought Multi Group for $56 million

500.com has bought Multi Group for $56 million

A leading online sports lottery service provider in China 500.com announced that it has entered into a share purchase agreement, pursuant to which it has conditionally agreed to purchase approximately 93.0% of the outstanding shares of The Multi Group Ltd. for a total consideration of approximately EUR49.8 million (approximately US$56.0 million) in cash. Closing of the acquisition is subject to approval by relevant regulatory authorities and customary conditions set out in the Share Purchase Agreement.

Unaudited net profit at the company last year came in at €5.4 million, which also represents an increase on the €1.2 million recorded in its first year of operation.

Follow us on

Check Also

William Hill expands partnership with Golden Entertainment

Golden Entertainment announces that it entered into a long-term agreement with leading sports book operator …

Play’n GO released Queen’s Day Tilt!

Swedish content supplier Play’n Go have presented their latest slot title, Queen’s Day Tilt. New …

Leave a Reply

Your email address will not be published. Required fields are marked *

Show Buttons
Hide Buttons