Unibet, one of the leading online bookmakers in the world, announced today that they have acquired a close competitor, as they have taken over Stan James’ online business. The acquisition does not include the land-based Stan James business, who will continue to operate under the Stan James brand for an extended period.
The transaction is still subject to regulatory approval before being finalized, but it is believed that there will be no hickups along the way. The purchase will strengthen Unibet’s position in the UK online market, taking over a popular bookmaker in the newly regulated territory.
Unibet will also take over all of Stan James’ 150 employees that are based in Gibraltar, which is in line with the standard EU business acquisition rules.
“We have long been looking at strengthening our position in the UK online market. 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. Stan James has had a long presence in the British market where there are few companies of this size available for acquisition. Since Unibet has only recently targeted the UK market there is little overlap between our respective businesses. Over time we see a significant potential to increase the breadth of the Stan James product range, such as live streaming, casino and improving the mobile offering,” says Henrik Tjärnström, CEO Unibet.
Denis Kelly, CEO of Stan James Online says, “We are delighted to join the wider Unibet group. There is a substantial market opportunity in the UK following the re-regulation. 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 in the UK. I would also like to take this opportunity to thank the shareholders of Stan James for their strong support of the business.”