Betting Promotion and Tain in merger talks
Companies in early-stage talks over potential tie-up with vote potentially to be held in October
Sports betting provider Betting Promotion and gaming technology specialist Tain are in discussions over a potential merger, the two companies have confirmed.
Negotiations are still at an early stage, however, Betting Promotion has stated it expects the talks to finalise in October with a final decision being taken at an extraordinary general meeting to be sheduled shortly after.
In a statement, Malmo-headquartered Betting Promotion said the merger between the two Swedish companies would be an important step in strengthening both companies’ position in the digital gaming industry.
How any deal would be structured is still unknown with Betting Promotion chairman Peter Istrim telling eGaming Review that the technicalities of a potential agreement were currently being discussed.
Tain aquired a 18% stake in BPS last year, making it the largest single shareholder in the company.
At the time of the investment, Tain CEO Christer Fahlstedt said: “We believe both Tain and Betting Promotion are very well positioned to play a big role in the online gaming industry in the coming years. We are looking forward to working even closer with the management team and board of Betting Promotion to realise the full potential of both companies.”
In June, eGaming Review reported that Betting Promotion was to undertake an internal business review after the company posted a net loss of 424,000 with turnover down more than 40% for the three months ended 30 June.