United Game Tech plc
United Game Tech successfully completes capital increase
DGAP-News: United Game Tech plc / Key word(s): Capital Increase PRESS RELEASE United Game Tech successfully completes capital increase Malta, October 4, 2016 – United Game Tech plc, a technology company and leading provider of sports betting, has successfully placed a capital increase in the amount of 1 million euros. As part of a private placement, 500,000 new shares were issued at a price of 2.00 euros per share to family offices and other institutional investors in Germany and Switzerland. The issue proceeds will be used for further growth financing in the areas of sports betting and entertainment technology. United Game Tech plc has already been operating in the sports betting market since 1949 and is one of the industry pioneers in Europe. The company offers its corporate clients a broad portfolio that ranges from innovative software and hardware solutions through to services and a franchising platform – all provided by experienced industry experts. At the same time, United Game Tech plc itself is active in Germany, Malta, Belgium and Gibraltar, Austria and Romania as a licensed sports betting and gambling operator or via licensees and thus harnesses its own experience and expertise in the sports betting market through the private customer business. The company is home to some of the best-known brands in the European sports betting market, such as Digibet and Bancobet. The combined service portfolio of United Game Tech plc enables it to make the most of the growth witnessed in the European sports betting market. Alexander Zucker, CEO of United Game Tech plc: ‘We are delighted by the trust of our new investors. We will use the proceeds of the capital increase to further expand our operations in the high-growth sports betting segment. In the medium term, we also plan to significantly increase our revenue through acquisitions.’ In the 2015 financial year, United Game Tech plc generated revenue of just under 110 million euros. The ‘Sports Betting’ segment contributed about 71.4 million euros to this figure, making it the company’s most important revenue driver. Revenue in this segment rose by around 19.0 per cent year-on-year. The pre-tax profit for 2015 came in at about 1.1 million euros despite substantial advanced payments for the further expansion. About United Game Tech plc. Disclaimer Contact: Investor relations:
2016-10-04 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | United Game Tech plc | |
154, The Strand | ||
GZR1025 Il-Gzira | ||
Malta | ||
Phone: | +356 2763 1370 | |
E-mail: | ugt@kirchhoff.de | |
Internet: | http://unitedgametech.com/ | |
ISIN: | MT0001180109 | |
WKN: | A2AR1C | |
End of News | DGAP News Service |