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Online Gambling Firm Sportingbet Buys ISC for $27 Million

Authored by Mark Hefflinger on August 3, 2005 - 6:20am.
London -- Sportingbet, a U.K.-based Internet gambling firm, announced that it has acquired ISC Entertainment, an Antigua-based operator of gambling websites focused on the U.S. market, for approximately $27 million. Sportingbet said it would raise half the total by issuing about 2.7 million shares and pay the other half in cash. The company also said that it intended to use ISC's websites to drive further business to its own Paradise Poker brand. "ISC is a high-quality business, and the acquisition is a strong addition to our existing U.S.-facing brands," said Sportingbet CEO Nigel Payne. "With almost no integration required and solid organic growth prospects, we look forward to developing ISC's brands within our industry leading portfolio."
tags: Deals | Internet | Sportingbet | Online Gambling Firm | ISC |