Sportingbet signs deal to sell its Turkish business

Sportingbet revealed that the deal for its SuperBahis.com domain has been arranged through its Longfrie Limited subsidiary and would see East Pioneer run the business in the same way under guarantees from GVC Holdings and that firm’s GVC Sports business-to-business operation.

“Following this disposal, Sportingbet will derive the large majority of its earnings from regulated territories,” said Andrew McIver, Chief Executive Officer for Sportingbet, which recently purchased Danish online bookmakers Danbook Limited and Scandic Bookmakers Limited for a combined consideration of up to us$ 13.4 million.

“The proceeds from the sale of this unregulated income stream will be used to drive forward the rest of the group. We have clearly shown our strategic intent and look to the future with confidence. The group's future is underpinned by the quality of our best-in-class global sportsbook and diversified business model.”

Sportingbet declared that the deal, which is now subject to approval by its shareholders, would include the disposal of all customer-facing assets including its customer database and accounts along with intellectual property and key employees.