Napthens solicitors has advised on the acquisition of a Cleveleys sports betting group by a Canada-based business.
BD Sport Group, which was founded in 2007 in Linden Close to provide stadium betting services for sports teams, has been bought by Gaming Nation Inc in a deal worth £8.8m, with an additional earn out provision of up to £2.2m.
The company operates stadium betting at 31 stadiums in the UK, employing nine full-time employees and more than 1,000 match day staff.
Its match day betting service is currently operational with football clubs from the Premier League and Champions League including Manchester United, Manchester City, Liverpool, Chelsea, Arsenal and Everton.
Gaming Nation Inc is based in Toronto, Canada, and provides technology and information platforms to the sports and entertainment industry. A team of lawyers from Napthens including Phil Brown and Natalie Lewis advised BD Sport Group on the sale, led by Richard Robinson, partner and head of corporate. Corporate finance advice was provided by John Ballard and Chris Evans of Ballard Evans.
Gaming Nation was advised by US law firm Pillsbury Winthrop Shaw Pittman.
Gaming Nation CEO Scott Secord said: “We are excited to have closed the acquisition of BD Sport Group and look forward to integrating the infrastructure and management expertise into our operations.”
Richard Robinson of Napthens said: ‘We’re delighted to have advised BD Sports on this deal and now look forward to seeing the company grow under the Gaming Nation umbrella.”