Stan James, a leading Gibraltar betting firm, has revealed that it has sold its online betting operations together with full rights and ownership of the brand to Unibet for an amount of £19 million. The deal does not, however, include the more than 90 of Stan James’ betting shops that are located in the United Kingdom.
British bookmaker Stan James was established in 1973. The firm currently has 150 employees at its online operation which is based in Gibraltar.
Stan James’ remote gambling operations offer players casino games, sports betting and online poker which is a skin on the MPN (which was formerly known as the Microgaming Network).
The deal will see Unibet’s positioning being strengthened in the UK market while giving Stan James an opportunity to focus on their own strengths of horse racing and sports betting. In terms of the deal Unibet will maintain the Stan James name for all online casino operations while utilizing the Unibet’s existing portfolio of games.
Dennis Kelly, the Chief Executive Officer of Stan James, commented on the deal by saying that they are delighted to join the wider Unibet group. He added that there is a substantial market opportunity in the UK following the re-regulation and that with the combination of Unibet’s expertise in marketing and financial strength, together with Stan James’ high quality sports and racing betting offering aimed at the UK market, he is confident that they can substantially increase the combined Group’s market share in the UK.
The full acquisition price of £19 is payable in cash and is due to be adjusted for customer liabilities that Unibet will take over on completion
