Unibet pays final earn-out on iGame Group
News on 2 Oct 2016
News on 2 Oct 2016
Unibet has announced the final earn-out payment on a deal to acquire the iGame Group which was inked back in August last year (see previous report).
A press statement from the company reports the second and final earn-out payment of Euro 12.5 million to the former owners of the iGame Group.
The payment fell due on September 30 2016 and is based on the results of the iGame Group up to 30 June 2016, with the targets set in the acquisition agreement met in full.
The cost of paying the maximum earn-out of Euro 20 million was fully provided in the financial statements of Unibet Group at 31 December 2015, so this payment has no impact on Unibet Group’s reported results for 2016.
