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RaceBets holds licenses in betting site offers uk UK, Ireland, Malta and Germany.
RaceBets offers a highly competitive product on par with the best UK operators and customers can bet on more than 250,000 different races yearly.
Horse betting site offers uk is one of the most popular betting sports and the total estimated worth of the European horse betting market is EUR 3.
The cooperation with German racing will continue.
The accounting revenue of RaceBets in 2018 was EUR 9.
The annual check this out rate 2018-2018 was 12 percent.
The acquisition multiple is 10.
Subject to achieving certain financial and non-financial milestones, a remaining purchase consideration amounting to EUR 6 million may be paid.
The total maximum consideration for the business is capped at EUR 40 million.
Betsson may also pay for additional cash in the company.
Closing of the deal is expected in the beginning of 2018 and is subject to the satisfaction of relevant regulatory approvals.
Restructuring effects of the acquired entity is estimated to have a temporary negative impact on revenue and EBIT of up to EUR 750,000 in 2018.
About RaceBets RaceBets was founded in 2005.
By 2007, it was established as the leading horse racing bookmaker in Germany.
In 2010, the German Thoroughbred Racing Betting site offers uk became shareholders and a significant percentage of profits are reinvested in the horse racing industry.
Since 2012 RaceBets offers full-coverage of UK and Irish horse racing markets.
The company is based in Malta and has 60 employees.
RaceBets is regulated by the Malta Gaming Authority MGAUK Gambling Commission, the Irish National Excise License Office and the Regional Council of Darmstadt in Germany.
RaceBets was one of the 20 companies that were allocated a German sports betting license in 2018, but these licenses have not yet been issued.
For further information, please contact: Ulrik Bengtsson, CEO and President Betsson AB +46 0 8 506 403 00 Pia Rosin, VP Corporate Communication Betsson AB +46 0 73 600 85 00, pia.
The information was submitted for publication, through the agency of the contact persons set out above, at 8:00 CET on December 7th 2018.

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