Online Gambling Firm Sportingbet Buys ISC for £22 Million

London -- Sportingbet, a U.K.-based Internet gambling firm,
announced that it has acquired ISC Entertainment, an Antigua-based
operator of gambling websites focused on the U.S. market, for
approximately £22 million. Sportingbet said it would raise half the total
by issuing about 2.7 million shares and pay the other half in cash. The
company also said that it intended to use ISC's websites to drive further
business to its own Paradise Poker brand. "ISC is a high-quality
business, and the acquisition is a strong addition to our existing U.S.-
facing brands," said Sportingbet CEO Nigel Payne. "With almost no
integration required and solid organic growth prospects, we look
forward to developing ISC's brands within our industry leading
portfolio."
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