It will now concentrate fully on its core business in Germany
Betbull announces sale of Spanish subsidiary to bwin
2010-10-20
Reading time 21 seg
Betbull will now concentrate fully on its core business in Germany. The sale will release betbull from the funding obligations required by Winners as it expands in Madrid and further Spanish communities, and allow the already cash flow positive German business to expand and develop under an eagerly awaited new legislation.
Bwin continues to be a major shareholder in betbull where it is quoted on the Vienna stock exchange, as is bwin. As part of the sale exercise betbull has reduced costs at a holding level and has a healthy cash position.
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