Everest Poker and Mangas Gaming will join forces
Shortly after news broke of a rumored merger between online gaming companies bwin AG and PartyGaming Plc , an announcement about a definitive business deal between EverestPoker.com and Mangas Gaming hit the newswire.
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The deal marks the long-awaited move into the gaming space by the parent company of European sports betting operators BetClic, Expekt and Bet-At-Home; and provides it with a key platform and liquidity in the European poker and casino verticals.
Mangas Gaming chief executive Isabelle Parize said: “We are very proud that Everest Poker is joining our group. It is a great company; it is a brand with an outstanding awareness in the world of poker, well-known for its know-how, its platform reliability, and its strict policies. Mangas Gaming is reinforcing its position as a major European player in both the online poker and sports betting markets.”
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According to an article on the Dow Jones newswire, the deal is worth more than $100 million. Mangas Gaming will make an upfront cash payment of $100 million to EverestPoker and the deal is scheduled to be finalized in early 2010 and the final portion of the payment will come after the fair market value of the company is assessed in 2012.
Earlier in the year, Mangas Gaming acquired Germany’s Bet-at-home and Scandinavian sports betting operator Expekt.
The company has over 4 million customers, 600 staff and a presence in 25 countries.
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