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Primebet scheint ja jetzt zu betbull zu gehören....
30.11.2005 17:09:00
euro adhoc: betbull - The European Betting Exchange Plc. (deutsch)
euro adhoc: betbull - The European Betting Exchange Plc. / Quartals- und Halbjahresbilanz / Betbull - The European Betting Exchange Plc announces its 3rd Quarter Results and the completion of it’s acquisition of the Leip Group, one of Germany’s leading retail bookmakers
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30.11.2005
Betbull plc announces its 3rd quarter results for the period 1st July through 30th September 2005:
During the period:
· Betbull moved its exchange platform onto a new technology platform, sharing markets and liquidity with other exchanges. · Betbull saw revenues from its betting exchange grow in line with expectations. · Betbull maintains a healthy cash balance as at 30th September 2005 of £6.9 m or EUR9.5 m.
On the 31st October, after the completion of the reporting period, Betbull announced the completion of it’s acquisition of the Leip Group, one of Germany’s leading retail bookmakers as well as the successful completion of it’s recent EUR7.5 million fund raising.
Following the acquisition Betbull also intends to shift parts of its operational base to Primebet’s operational base (a Malta based company owned 100% by Betbull), realizing significant cost savings.
Commenting on today’s results Günter Schmid, CEO of Betbull said: "The successful technology migration is of key importance for the exchange business as recent press reports would indicate that significant UK retail bookmakers will also be contributing to the liquidity of the shared platform. However the most significant achievement since 1st July has been the acquisition of the Leip Group and the successful fund raising."
"The acquisition of the Leip Group Betbull signals the end of our start up phase. The Leip Group is a profitable and cash generative business in a European key market with significant growth potential. Our vision is to grow the business organically and through acquisitions building upon the lead in the rapidly expanding, yet still immature retail betting sector."
Simon Bold, COO of Betbull, further added: "We now have a fantastic opportunity for Betbull to be a part of the retail business in Germany in the World Cup year 2006. The German retail sector is ready for the changes that we can bring about in terms of new products, better technology and improving the customer experience. With the collective retail bookmaking skills betbull now possesses, I am confident that we can create substantial value here. This acquisition is only the start of our Continental European retail growth strategy."
This ad hoc release plus 2005 Quarter Three consolidated balance sheet and the profit and loss account are available on www.betbullplc.com.
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