Betbrokers PLC, the UK-based AIM-listed retail and wholesale sports betting brokerage and clearing house, is preparing to acquire Winning Edge International, Inc, a Las Vegas-based informa
Betbrokers PLC, the UK-based AIM-listed retail and wholesale sports betting brokerage and clearing house, is preparing to acquire Winning Edge International, Inc, a Las Vegas-based information and tipping service listed on OTCBB.
Founded by best selling author and sports television celebrity Wayne Allyn Root, Winning Edge is the only publicly traded sports information and tipping service in the US. Sports information and tipping is known as ‘handicapping’ in the US and is completely legal. Wayne was recently inducted into the ‘Las Vegas Walk of Stars’, the only professional sports handicapping personality to ever be so honoured.
The deal, which is currently undergoing the due diligence process, will involve Betbrokers acquiring 100% of the business assets of Winning Edge International for USD 6.5 million, entirely funded through issuance of new shares to the vendors.
Wayne Lochner, Betbrokers Chief Executive said: ‘Acquiring Winning Edge is a win-win. It fits into our overall strategy of developing a global service in which the sale of data is an integral part. It means we can extend our trading day and offer our European customers information and tips on US sporting events. It also gives us a firm and completely legal foothold in the US sports betting arena should the tight gambling regulations eventually be relaxed.’
He added ‘Winning Edge also offers us access to their broadcasting services and sponsorship opportunities as well as a database of over one million predominantly male sports wagering enthusiasts. It’s a win-win for Winning Edge because it gives them access to the broader and legal European market, which fits in with their international expansion plans.’
Betbrokers was launched in 2003 and provides a custom telephone brokerage, settlement, risk management and clearing house service for both retail and wholesale clients. The firm has accounts with the major bookmakers and exchanges, and operates a telephone intermediary brokerage service from its Canary Wharf dealing room, offering clients access to the entire market.
