Unibet Group Plc has today agreed to pay £19 million for the online gambling business of Stan James Group Plc along with full rights and ownership of the brand. The deal does not include Stan James’ betting shops located in the United Kingdom of which there are more than 90.
Stan James is a British bookmaker that was established in 1973 although its online operation is based in Gibraltar where it has 150 employees. Its remote gambling operations offer sports betting, casino games and online poker, the latter being a skin on the MPN (formerly known as the Microgaming Network).
The CEO of Stan James Online, Denis Kelly, said of the deal: “We are delighted to join the wider Unibet group. There is a substantial market opportunity in the UK following the re-regulation. Through the combination of Unibet’s expertise in marketing and financial strength, together with Stan James’ high quality sports and racing betting offering aimed at the UK market, I am confident that we can increase substantially the combined Group’s market share in the UK. I would also like to take this opportunity to thank the shareholders of Stan James for their strong support of the business.”
Unibet has been looking to strengthen its position in the UK online market for some time and its CEO, Henrik Tjärnström, is excited about the new avenues the acquisition opens for the Swedish company.
“We have long been looking at strengthening our position in the UK online market. Stan James as an operator is one of the most well-respected in the UK market with particular strengths in horse-racing and other British sports. Stan James has had a long presence in the British market where there are few companies of this size available for acquisition. Since Unibet has only recently targeted the UK market there is little overlap between our respective businesses. Over time we see a significant potential to increase the breadth of the Stan James product range, such as live streaming, casino and improving the mobile offering.”
Unibet was formed in 1997 and now provides online gambling services in 21 languages across 100 countries.