Sporting Index sold to private investor with other gaming interests
Sporting Index owner HgCapital has sold the sports spread-betting operator to a private strategic investor for an undisclosed amount.
Both HgCapital and Sporting Index refused to comment further at the time of writing although iGaming Business understands the private investor is thought to have other gaming interests.
The private equity group acquired Sporting Index in 2005 for £76m from Duke Street Capital and had decided to put it up for sale following the 2014 World Cup.
The transaction is subject to regulatory approval by the UK Financial Conduct Authority.
Sporting Index is the dominant operator in sports spread betting and over recent years has developed its B2B unit Sporting Solutions.
In a statement, Sporting Index said the unnamed investor plans to support the current management team in expanding both B2C betting business and its B2B pricing and software services.
Warren Murphy, chief executive of Sporting Index, commented: “This is a really exciting time for the Sporting Index Group, its staff and its customers. Our new owner is an excellent fit for our business. We have a shared vision for the future and will receive the necessary resources and expertise to help drive the future growth of both Sporting Index and Sporting Solutions. We are excited by the opportunities that lie ahead.”