October 15, 2008

Mangas Capital to acquire NordicBet

Mangas Capital Gaming, the investment firm that acquired a 75% stake in sports betting operator Betclick earlier this year, is in contact with NordicBet with a view to acquiring a majority stake in the Scandinavian-focused site.

According to French media, Mangas Capital chief executive Stéphane Courbit is in exclusive negotiations with the management of NordicBet with a view to completing the acquisition by the end of the year. Once the NordicBet acquisition is completed, Courbit is believed to have his eyes on another European listed operator.

The acquisition of NordicBet, which is strong in Scandinavia and the Baltic countries, would be the second such transaction by Courbit’s company and would complement the geographic reach provided by Betclick, which has a strong presence in France, Italy and Spain.

Courbit is pursuing his strategy of creating a strong European-wide network of sports betting operations capable of taking advantage of online betting regulation on the Continent. With strong links to media organisations throughout Europe through his past role as chief executive of Endemol France, Courbit plans to be at the forefront of the industry once it is allowed to operate in European markets.

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