International edition
September 24, 2020

It will now concentrate fully on its core business in Germany

Betbull announces sale of Spanish subsidiary to bwin

(Spain).- Betbull has sold 100% of Winners Apuestas, its Spanish subsidiary, to bwin Interactive Entertainment for 4 million Euros. Winners is licensed in Madrid and operates from 6 locations plus points of sale within the Santiago Bernabeu Stadium.

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etbull 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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