Spiffbet Purchased Online Casino Sir Jackpot And Live Lounge
Spiffbet signed an agreement with livelounge ltd from the british virgin islands on the acquisition of sir jackpot online casino and live lounge for the maximum amount of 2.5 million swedish kroons (298 thousand us dollars). The transaction means that spiffbet acquires the rights to the sirjackpot com domains and the livelounge com domains and the livelounge com with the the appropriate customer database and other intellectual property rights. Acquisition includes two employees who will be integrated into spiffbet organization.
Sir jackpot and live lounge operate in several european countries. Based on the results of the fourth quarter of 2020, the sales volume of business with the current structure and level of investment is estimated at about 6 million swedish crowns per year (715 thousand us dollars). Business will be integrated is existing spiffbet activities and is expected to make a small contribution to profit with good conditions for growth.
Acquisition is paid for payment in two stages. Partly according to the reverse of 2 million swedish crowns, which will be repaid in about 2 monhs or in cash, or by credit against the newly issued spiffbet shares, and partly through a cash payment in the amount of 0.5 million swedish crowns, which is paid subject to certain conditions until june 30, 2021.
"We continue to implement our strategy for growth and acquisitions. Sir jackpot and live lounge contribute to an existing business both through sales and due to profits, which means that we can distribute fixed costs for a larger income base and improve our items in negotiations with suppliers and partners. In addition, we are replenished with two qualified employees, which is important at the growth stage on which we are now, –
Said in the comment general director spiffbet henrik svensson.
"This is a good additional acquisition that gives us the opportunity to work with two famous brands. Due to the fact that. We also welcome two employees. We are ideal for the strengthening of the organization now when we start speeding up the acquisitions made in 2020 ",
– comments maria belius, head of the spifbet casino operations department.
Source: press release spiffbet