Spiffbet to acquire Scandibet and TurboVegas operator
22nd February 2021
| By Daniel O Boyle
Online operator and supplier Spiffbet has signed a letter of intent to acquire Manisol Gaming, which operates Scandibet and TurboVegas.
Spiffbet will pay SEK20m to acquire the brands, while it will also acquire SEK10m in debt in doing so, meaning the debt-free initial price for the acquisition is SEK30m. An additional purchase consideration of up to SEK6m may be paid by the end of 2022 depending on meeting certain targets.
This payment may be made either in cash or with 50 million newly issued Spiffbet shares. Spiffbet shares are currently trading at €0.039 each on the Nasdaq First North Exchange. If the share option is chosen, Spiffbet will issue a total of 109.5 million new shares, with other shares going to existing major owners and to those who received shares when Spiffbet acquired Cashmio.