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Home - Bingo News - GlobalCom sells for $43.4m
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BINGO NEWS |
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GlobalCom sells for $43.4m
The Online Bingo business Globalcom Ltd is to be bought for a staggering $43.4 million cash. The announcement was made by the buyer, online gaming group 888 Holdings, on Thursday.
The announcement received a positive response, as it is indicative of the sector’s rising from the ashes of last years ban on online gaming in the USA.
A spokesperson for 888 Holdings said they anticipate the deal would enhance earnings with immediate effect. The deal has been worked out that 888 pays $32.4 million, less amounts payable to customers, over the 12 months period following completion of the deal.
An additional $11 million will be paid based on performance of the unit. This includes well-known sites bingogringo.co.uk, twofatladies.com and bingofabulous.com.
Both online bingo and bingo-hall bingo are being hailed as potential money-spinner for online firms suffering from the U.S clampdown of late 2006.
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