Betbull Holding SE
Betbull Holding SE announces it’s withdrawal from the Exchange Betting Business
Betbull Holding SE / Miscellaneous
Release of a Corporate News, transmitted by DGAP – a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
———————————————————————-
Betbull Holding SE announces it’s withdrawal from the Exchange Betting
Business
Betbull Holding SE has taken the decision to cease trading on it’s exchange
betting platforms www.betbull.com and www.betbull.de with effect from 28th
February 2009. However, online sportsbook facilities will continue to be
offered to retail clients via the www.primebet.com website. The decision
has been taken in order to further streamline the company and concentrate
on the core markets of retail betting, both in Germany where there is
already a mature business and the fast developing Spanish market.
Betbull is working with it’s platform provider, Global Betting Exchange, to
ensure a smooth exit and minimize inconvenience to customers. Payment
provision for accounts with credit balances will be maintained and
alternative account facilities will be available to clients via Betdaq,
operating on the same exchange platform.
The projected estimated impact (unaudited figures) of closing
www.betbull.com is a group consolidated loss of Euro 60,000 and no movement
in liquid funds due to the release of a security collateral.
Commenting on the announcement today Simon Bold, director of Betbull
Holding SE said ‘We no longer see exchange betting as part of our core
business, we therefore prefer to focus our attention on the retail sector,
where we are achieving sustained growth and healthy margins in Germany and
beginning to roll out units in Madrid under the w1nners licence awarded
last September. We strongly believe in the durability of the retail model
and see great potential for growth in the European markets. Online
sportsbook will still be available to our retail clients via the existing
Primebet website’
– ENDS –
Contact
David De Marco, Group Finance Director
d.demarco@betbull.com
Phone +356 21494443
Fax +356 21480132
Betbull Holding SE
15 Fetter Lane,
London EC4A 1JP
United Kingdom
Betbull Holding SE (formerly Betbull Plc) is registered in England & Wales
under the Registration Number SE12 (formerly 05044730).
This communication can be downloaded from the website www.betbullse.com.
About Betbull:
Betbull is an established provider of gaming centred retail entertainment,
based in London. Betbull offers its customers principally horse and sports
betting at licensed betting shops, complemented by slot machines, internet
betting and sports bars. Betbull accepts bets based on licences in England
and Wales, Malta and Germany, and is also licensed in Madrid, Spain. In
Germany, Betbull products are available above all under the ‘Wettenleip’
brand. In Madrid, Spain, the launch of the retail brand ‘w1nners’ is to be
piloted following the granting of a licence for a joint venture with bwin
Interactive Entertainment AG. Betbull itself has been quoted on the Third
Market of the Vienna Stock Exchange since October 2004 (ISIN AT0000615331)
and was established as a joint venture between Fun Technologies Plc and
bwin Interactive Entertainment AG. For detailed information on Betbull,
visit www.betbullse.com.
23.02.2009 Financial News transmitted by DGAP
———————————————————————-
Language: English
Issuer: Betbull Holding SE
15 Fetter Lane
EC4A 1JP London
Großbritannien
Phone: +356 21480131
Fax: +356 21480132
E-mail: info@betbull.com
Internet: www.betbullplc.com
ISIN: AT0000615331
WKN: A0DKM0
Listed: Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt;
Foreign Exchange(s) Wien
End of News DGAP News-Service
—————————————————————————
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found