Betbull verkauft italienische Tochter
Betbull plc ('Betbull') sells Italian subsidiary
Betbull has successfully closed the sale of its Italian subsidiary company, which holds four betting licences (two in Milan and two in Como) and has one leasehold property. Sale proceeds amount to Euro 560,000 against an initial purchase cost of Euro 320,000 for the 4 licences in 2007. The sale results in a small profit after costs and releases further funds which had been provided as guarantees. The proceeds from the sale will be utilised in continuing to develop Betbull’s business in its core markets, namely Germany and Spain.
Commenting on today’s release Simon Bold, Director of Betbull plc, said: 'We have taken the decision to curtail our interests in the Italian market for a number of reasons, primarily we have found the opportunities to be very restricted and the effort and resources necessary to achieve a presence would be better applied to our core areas. Betbull plc was awarded the four licences in Italy in 2007 following a tender process. The strategy as announced at the time was always to take a cautious approach.
We are happy to have realised a small profit on the sale of our investment and will make the funds from the disposal available for the further development of our businesses in Germany and Spain.'
Betbull has successfully closed the sale of its Italian subsidiary company, which holds four betting licences (two in Milan and two in Como) and has one leasehold property. Sale proceeds amount to Euro 560,000 against an initial purchase cost of Euro 320,000 for the 4 licences in 2007. The sale results in a small profit after costs and releases further funds which had been provided as guarantees. The proceeds from the sale will be utilised in continuing to develop Betbull’s business in its core markets, namely Germany and Spain.
Commenting on today’s release Simon Bold, Director of Betbull plc, said: 'We have taken the decision to curtail our interests in the Italian market for a number of reasons, primarily we have found the opportunities to be very restricted and the effort and resources necessary to achieve a presence would be better applied to our core areas. Betbull plc was awarded the four licences in Italy in 2007 following a tender process. The strategy as announced at the time was always to take a cautious approach.
We are happy to have realised a small profit on the sale of our investment and will make the funds from the disposal available for the further development of our businesses in Germany and Spain.'