Unibet Buys Stan James Internet Business

Sweden-based Unibet has purchased betting firm Stan James’ online assets for approximately £19 million ($29 million).  The sale does not include any of Stan James 90 bookmaking stores throughout the UK.

“We have long been looking at strengthening our position in the UK online market,” said Henrik Tjärnström, CEO Unibet. “Stan James as an operator is one of the most well-respected in the UK market with particular strengths in horse-racing and other British sports.”

“Overall, this deal should not come as a surprise as the business was believed to be up for sale for some time,” Gavin Kelleher, research analyst for Goodbody, told the Racing Post. “In terms of impact on the market, combined with its existing business in the UK, the Unibet business has limited market share so it will still be difficult for it to become a top tier player.”

“Through the combination of Unibet’s expertise in marketing and financial strength, together with Stan James’ high quality sports and racing betting offering aimed at the UK market, I am confident that we can increase substantially the combined group’s market share.” Said Denis Kelly, chief executive of Stan James Online.

- Aaron Goldstein, Gambling911.com