Unibet to acquire Stan James Online for £19m
Unibet is to acquire the online gambling division of Stan James in a deal worth £19 million (€26.4 million/$29.3 million).
Under the agreement, Unibet will acquire the full rights and ownership of the Stan James Online brand
However, the deal does not include the UK retail business operated under the Stan James brand, which, for a transitional period, has been granted rights to the brand.
During the five-month period through to May 31 this year, the Stan James Online business generated revenue of £10.5 million and posted earnings before interest, tax, depreciation and amortisation of £1.4 million, after charging UK point-of-consumption tax.
The deal, which remains subject to various regulatory approvals, is expected to be completed towards the end of the third quarter of this year.
“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 horseracing and other British sports,” Unibet chief executive officer Henrik Tjärnström said.
“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.”
Denis Kelly, chief executive of Stan James Online, added: “There is a substantial market opportunity in the UK following the re-regulation.
“Through the combination of Unibet’s expertise in marketing and financial strength, together with Stan James’ high quality sports and racing betting offering aimed at the UK market, I am confident that we can increase substantially the combined Group’s market share in the UK.”
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