2UP Gaming PLC Agrees to Acquire DBG Poker Group
NEW YORK, Jan 08, 2013 (GLOBE NEWSWIRE via COMTEX) --
UK based 2UP Gaming PLC (GXG:2GM), operators of a leading online gaming website www.2UP.com, has announced that they have executed an agreement to acquire the DBG Poker Group--a European provider of online gaming software and hardware technology and services--for EUR25 million in cash and stock.
The acquisition brings 2UP proprietary, advanced, "live dealer" technology, offering online players a never before seen high-quality live gaming component. Casino games such as Poker, Blackjack, Baccarat, and Roulette will be streamed directly from a real world casino to internet players, thus ensuring a fair, honest and transparent online gaming experience.
"DBG has developed an impressive suite of online games, and maintains a loyal database of regular playing customers, said 2UP's CEO Marino Sussich. "DBG is a profitable, established company that brings significant technical and engineering capability thereby making 2UP a full-service advanced gaming technology and service provider."
Ricardo Baldassari, founder of DBG Poker who will continue to lead the newly acquired DBG Group's European operation, commented, "We are very excited about being a part of 2UP Gaming. We see great synergy between the companies and know that together we can expand our market presence and provide a full range of products and services to our customers."
MidOil USA's Managing Director Vincent Crandon, who recently announced a US$75 million financing commitment for 2UP, structured the transaction. Mr. Crandon commented that, "2Up is poised to become a major player in online gaming, as it will have a full suite of world-class products, an existing profitable customer base, and the ability to fund an aggressive expansion campaign both online and a planned real world hotel/casino acquisition in Atlantic City, New Jersey."
2UP Gaming PLC is a UK based publicly held (GXG:2GM) provider of leisure and entertainment products in the gaming, wagering and lotteries segments of the gambling industry. Through www.2UP.com customers can access all gaming, wagering and lottery products from one website.
MidOil USA--New York
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