Betbull Holding SE has announced the sale of its Spanish subsidiary Winners Apuestas SA to gaming giant Bwin Interactive Entertainment for a price tag of 4 million Euros. The Spanish Winners is licensed in Madrid and operates from 6 locations in addition to point of sale locations within the Santiago Bernabeu Stadium.
Betbull is an established provider of gaming centered retail entertainment and has its base in London. With the sale of Winners, betbull can now concentrate fully on its operations in Germany. Perhaps most importantly, the sale releases the company from obligations it would have incurred as Winners expands further into Madrid and in other communities in Spain.
The inflow of capital from the sale will also permit betbull to prepare for expansion in Germany under changing legislation which should prove more favorable for the operator. With the acquisition of Winners, Bwin remains a strong shareholder in betbull and has contributed to improving the overall cash position of the company.