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PR: Bodog.com Purchases Betcorp's European and Asian-Facing Gaming Business
More Acquisitions Likely to Follow as Bodog.com Purchases Betcorp's European and Asian-Facing Gaming Business
October 23, 2006
Bodog.com Entertainment Group announced today a deal that would see the international digital entertainment giant enter into an agreement with Betcorp Limited to acquire the company’s international infrastructure, which includes its comprehensive gaming products, international customer base, technology, licenses and the group’s Antiguan offices. The agreement, conditional only on the approval of Shareholders, is another step in Bodog.com’s long-term strategy to expand its brand presence into international markets.
"This purchase, which speaks directly to the current strength of our business, is the first of many possible international acquisition targets under consideration," says Calvin Ayre, the billionaire founder of Bodog.com. "We couldn’t be better positioned to build upon our current success and growth and to continue our aggressive push towards international expansion into markets such as Europe and Asia."
Bodog.com’s latest strategic acquisition should come as little surprise, as the digital entertainment company has been taking a multi-phased approach to expanding its product channels into international markets for the past several years, with Bodog Music and Bodog Television leading the way.
Bodog’s international music distribution division, Bodog Music, currently has offices in Berlin, London and other international destinations. Bodog Television shows, including BodogFight.com and Calvin Ayre Wild Card Poker, are being distributed worldwide on cable, satellite, PPV and broadband to countries such as Russia, Australia, South Africa and the United Kingdom.
"Bodog has never been confined to any particular market or single form of entertainment," says Ayre. "Our greatest competitive advantage is and always has been our ability to combine a number of different forms of entertainment into one all-encompassing digital entertainment offering. It is because of this strategy that we’ve been able to successfully create the first truly international brand of this type, and it is what will guarantee our success as a world-facing entertainment provider for years to come."
Bodog.com’s acquisition of Betcorp’s international infrastructure will also have many implications on the industry and its international player-base. "Our latest move has been part of our long-term strategy and only represents good news for the industry and for the many existing and prospective Bodog.com customers," says Ayre. "It is in times such as these that players gravitate towards the strongest, most successful and most reputable companies. We’re confident in the strength of our brand and we’re confident that our players are, too."
There is also added benefit in this deal to host countries such as Costa Rica and Antigua & Barbuda, as Bodog.com will be growing its operations in both countries.
"Along with the many gains that are generated by allowing online gaming companies to operate within their borders, these host countries see an increase in employment opportunities and infrastructure, created by the international companies," says Ayre. Bodog.com, for example, employs hundreds of employees in Costa Rica and its purchase of Betcorp’s Antiguan offices will effectively save a number of jobs from being lost.
