Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

NetPlay TV to cash in its chips

The 9p a share being offered is 13.9% above last night's closing mid-market price for NetPlay
Roulette
The UK's largest interactive TV gaming company is a good fit with Betsson

It’s time to cash in the chips at NetPlay TV PLC (LON:NPT), where Swedish rival Betsson has made an agreed bid for the interactive gaming company.

The directors of the UK-listed company are recommending shareholders accept Betsson’s 9p a share offer, which values NetPlay at around £26.4mln.

Shares in NetPlay closed at 7.9p yesterday.

Directforce Trading, which controls 27.83% of the issued share capital of NetPlay, has already indicated it intends to accept the offer, while Henderson Global Investors, with a 9.5% stake, is also on board so although the offer requires 75% acceptance to go through, this one looks done and dusted.

"NetPlay operates three brands, each with strong offerings, and we believe that applying Betsson's experience of operating successful casino brands will add to NetPlay's earnings and growth. We have a long-term view on NetPlay and will achieve significant cost synergies and operational improvements over time. Part of Betsson's acquisition strategy is to add volume to its scalable Techsson platform and to increase the share of regulated revenue," said Ulrik Bengtsson, chief executive and president of Betsson.

Bjarke Larsen, chief executive officer of NetPlay said: “With the changing market dynamics and as the market continues to consolidate, we believe now is the right time to take advantage of this opportunity to realise value for all of our shareholders."

John-H.jpg


Register here to be notified of future NPT Company articles
View full NPT profile View Profile

Netplay TV Plc Timeline

Article
September 13 2016
Newswire
January 14 2016

Related Articles

learning symbol on a keyboard
January 16 2017
The English language learning specialist is confident it can kick on in the coming year
social-media.jpg
February 20 2017
One particular development of note is Cello Pulsar, a social media analytics tool that has, according to the experts, the potential to be a real winner.
White board with marketing ideas
March 13 2017
There was a bit of a wobble in the run-up to the Brexit vote and shortly after it, but the group's 'buy, build & grow' strategy is taking shape

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use