Gaming VC Takes on South America with New Acquisition

European online gaming company, Gaming VC Holdings has announced its acquisition of online gaming and sportsbook company Betboo.com for an initial US$4 million in cash plus a three-year earn out. The company has made this move in order to expand outside of Germany.

Betboo has provided South American customers access to online bingo, casino, sportsbook, and poker since 2005, and has more than 3,000 active monthly customers. Third party companies provide Betboo’s customer relations and IT support services, and its only “employees” are its three senior managers, who are also the company’s majority owners. This team will remain after the Gaming VC takeover.

Kenny Alexander, Chief Executive of Gaming VC, said, “This acquisition complements our strategy of continuing to diversify outside of Germany. The board believes that South America represents an exciting market opportunity. With a population of approximately 285 million, many of which are passionate about sports, and increasing broadband penetration, we are confident of significantly increasing betboo’s presence in this new territory for Gaming VC."

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