Everest Poker Acquired
Mangas Gaming, the leading French sports betting and online gaming group, owner of Betclic, announces that it is taking control of the Everest Gaming group.
Mangas Gaming will hold 60% of Everest Gaming, with the remaining 40% held by its current shareholder GigaMedia, a company listed on the NASDAQ.
The French group, Mangas Gaming, co-controlled by Lov Group, Stephane Courbit's patrimonial holding company, and the Societe des Bains de Mer de Monaco, becomes one of the three leading European actors in online gaming company in Europe. Following consummation of this transaction, the group will own Betclic, the French leading player in online sports betting, and Everest Poker, two strong and complementary brands with a large European coverage.
Established over 12 years ago, Everest Gaming is one of the few companies in Europe operating under an in-house developed online poker proprietary technology. Everest's sites, well known all over Europe, offer their players a gambling experience that is tailored to the local market. Everest Gaming has a staff of about 250 people and, as Mangas Gaming, is very committed to responsible gaming and transactions security.
The French group Mangas Gaming, owner of the sports betting companies BetClic, Expekt and Bet-At-Home, run by Isabelle Parize, has now established itself as a leading player in all key segments of online gaming, with a balanced activity between sports betting, poker and casino. Everest Poker with the addition of the Betclic Poker liquidity will become the first poker community in France.
Isabelle Parize, CEO of Mangas Gaming, said "we are very proud that Everest is joining our group. It is a great company; it is a brand with an outstanding awareness in the world of poker, well known for its know-how, its platform reliability and its strict policies. Mangas Gaming is reinforcing its position as a major European player in both the online poker and sports betting."
Arthur Wang, CEO of GigaMedia, said "we were looking for a reference partner with complementary activities to ours. Our strategy is to participate in the growth of this innovative and dynamic industry in Europe. We are glad to do it alongside the French leading sports betting and online gaming group."
For this transaction, Mangas Gaming was advised by Lazard and the law firms Bredin Prat and Cravath, Swaine & Moore LLP.
About Mangas Gaming
Mangas Gaming, the leading French sports betting and online gaming group directed by Isabelle Parize, is held equally by Lov Group and Societe des Bains de Mer (SBM). Mangas Gaming has a presence in more than 25 countries and, as determined at the end of November, had more than 4 million clients and a staff of more than 600.
