BETB Betbrokers

RNS Number:1439X
Betbrokers PLC
24 May 2007


Press release                                                        24 May 2007


                                 Betbrokers plc

                        ("Betbrokers" or "the Company")

                              Proposed acquisition

Betbrokers plc, (AIM: BETB), the UK's first retail and wholesale brokerage and
clearing house for the sports betting industry, is pleased to announce that it
has signed a Letter of Intent ("LOI") to purchase Winning Edge International,
Inc. ("Winning Edge").  The acquisition is subject to further due diligence,
agreement of satisfactory purchase terms and Winning Edge shareholder approval.
The proposed acquisition is line with the Company's stated strategy of providing
and selling data.

Under the LOI it is proposed that Betbrokers will acquire all of the operating
assets of Winning Edge for a consideration of US$6.5 million, it is anticipated
that the acquisition will be funded entirely through the issue of new
Betbrokers' shares to the current Winning Edge shareholders.  The acquisition is
expected to be completed in June 2007 and a further announcement will be made in
due course.

Las Vegas-based Winning Edge is America's only publicly traded sports
information and tipping service, known as handicapping in the US.  Winning Edge
specialises in developing and marketing sports handicapping advice and
information via television, radio and the Internet.  The Company also produces
high quality sports, television and radio programming and sells advertising as
well as sponsorship and marketing opportunities to its exclusive database of
more than one million sports and gaming fans.

This proposed acquisition will complement and significantly enhance Betbrokers'
service offering as it allows the Company to provide non-American customers with
detailed information on US sports.  In addition, this also offers longer trading
hours.  The provision of television and radio content covering US sports and
information services will be sold by Betbrokers to counterparties worldwide
where betting is legal.

Wayne Lochner, Chairman and Chief Executive of Betbrokers, commented: "The
proposed acquisition of Winning Edge is a significant step in our global growth
strategy.  Wayne Allyn Root, the Founder and Chairman of Winning Edge, is an
experienced television host and spokesman and his knowledge will be invaluable
in developing Betbrokers' business going forward".

Wayne Allyn Root, added: "My goal for Winning Edge has always been to build a
global brand leader and expand our handicapping advice to international sports.
Joining with Betbrokers gives Winning Edge and its shareholders that
opportunity.  With Betbrokers' experience, we will be well positioned to rollout
the Winning Edge business model globally".


                                    - Ends -

For further information, please contact:
Betbrokers plc
Wayne Lochner, Chairman and Chief Executive              Tel: +44 (0) 8448552100
wlochner@betbrokers.com                                       www.betbrokers.com

HansonWesthouse
Tim Metcalfe / Matthew Johnson                          Tel: +44(0) 20 7601 6100
tim.metcalfe@hansonwesthouse.com                         www.hansonwesthouse.com

Media enquiries:
Abchurch Communications
Chris Lane / Franziska Bohnke                          Tel: +44 (0) 20 7398 7716
franziska.boehnke@abchurch-group.com                      www.abchurch-group.com


About Betbrokers plc

Betbrokers is the UK's first independent betting brokerage.  The Company
facilitates transactional business between both retail gamblers and wholesale
clients.  The Company's operations were formally launched in 2005.

Betbrokers provides services, from its dedicated dealing room in London's Canary
Wharf, to two groups of participants within the gambling industry:

  * The Company provides its retail customers with the advantage of best price
    execution together with the ability to deal 'in size' in a majority of
    sporting events.  Retail customers will soon be able to access advanced
    data-sales and trading analysis platforms, which feed from aggregated
    internal price mechanisms.
  * Betbrokers already has agreements with over 100 bookmakers, providing them
    with the opportunity to take on additional bets from retail customers.
    Importantly, the Company also offers bookmakers a facility to effectively
    manage their risk exposure by hedging positions anomalously using Betbrokers
    as an intermediary to deal with the other bookmakers.


Betbrokers floated on the AIM market of the London Stock Exchange in November 
2006.  Further information is available on the Company at: www.betbrokers.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQVXLFLDEBEBBV

Betbrokers (LSE:BETB)
Historical Stock Chart
From May 2024 to Jun 2024

Betbrokers (LSE:BETB)
Historical Stock Chart
From Jun 2023 to Jun 2024