Online Casino Operator Gaming VC Buys BetBoo.com

July 11th, 2009 by admin

Major online casino and sports book operator, Gaming VC Holdings SA has recently acquired the Latin American casino company BetBoo.com. The dollar figure associated with this acquisition totaled approximately $4 million in cash as well as a three-year investment in earnings by the initial company.

BetBoo.com opened its doors in 2005 and established itself as an online casino and sports betting operation offering bingo, sports betting, poker and traditional casino games. Initially owned by Intera NV, the company was based out of the Netherlands Antilles and had customer subscriptions for South America.

Gaming VC began to acquire the license in August 2007 in an attempt to broaden its online casino base to extend beyond the German market and capture the newly acquired South American customers.

Gaming VC offers a variety of sites within their online Casino portfolio. These sites include Casinoclub, casinoclubpoker, beta land, pokerkings, slotsclub.com, affiliateclub.com , WinZingo and nowBetBoo.com.

According to the reports Gaming VC will not mess with the infrastructure that keeps the BetBoo.com executives and their positions.

“This acquisition complements our strategy of continuing to diversify outside of Germany,” said Kenny Alexander, Chief Executive Officer for Gaming VC.

“The board believes that South America represents an exciting market opportunity. With a population of approximately 285 million, many of which are passionate about sports, and increasing broadband penetration, we are confident of significantly increasing BetBoo.com’s presence in this new territory for Gaming VC.”

That too will be an amazing acquisition for the online casino company as it currently has 3000 active monthly customers and last year saw revenue of $4.4 million. Another positive side to the takeover of BetBoo.com is that there were no employees on staff at the online company.

Gaming VC will continue to make their payments toward the purchase on the first and second anniversaries of the acquisition, and profits for earnings will be divided by contract.