DGAP-News JAXX SE planning to sell off its lottery business
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DGAP-News: JAXX SE / Key word(s): Letter of Intent
JAXX SE planning to sell off its lottery business
19.01.2012 / 12:35
JAXX SE planning to sell off its lottery business
- Target price EUR 12.5 million
- Transaction to be completed by end of February
- Consistent focus on the myBet brand with the products sports betting,
casino and poker
Kiel, January 19, 2012 - The Kiel-based company JAXX SE today announced ad
hoc that it has entered into firm negotiations on the disposal of its
Lotteries segment. The listed company says it is planning to sell the
investment holdings and assets of its lottery business to a group of
investors for a price of EUR 12.5 million. A corresponding provisional
agreement was signed today between the Management Board of JAXX SE and the
group of investors.
The lottery operations, which comprise the companies JAXX GmbH (Hamburg),
JAXX GmbH (Lustenau, Austria), Vendo Spielsysteme GmbH (Lustenau, Austria),
fluxx.com Telewette GmbH (Hamburg), JAXX UK Ltd. (London, GB) as well as
certain assets of other group companies, are to be sold to the group of
investors with economic effect from January 1, 2012. The transaction is to
be completed by the end of February 2012. The sale also includes the JAXX
domains, JAXX brands and rights relating to the name JAXX, though the
change in the name of the disposing parent company JAXX SE is subject to
the approval of its Shareholders´ Meeting. Spanish lottery business, which
is operated by the 70 percent owned subsidiary DIGIDIS S.L., Madrid, is not
part of the transaction.
To ensure the smooth handover of business operations, various services such
as payments, customer service and IT support will continue to be provided
by companies that are part of the group. JAXX SE will thus still share in
the future business development of lottery products.
The decision to sell off lottery agency business is based on the group´s
desire to focus on the business areas of sports betting, casino and poker,
which are largely carried by the myBet brand.
´The disposal of lottery business is the logical consequence of our
decision to focus on betting business and the myBet brand, which we took at
the end of 2010, ´ explained Mathias Dahms, Management Board spokesman of
JAXX SE. ´The opening up of markets throughout Europe offers us excellent
growth opportunities - above all for sports betting in Germany. On the
other hand the lottery market will continue to struggle for as long as the
state maintains its monopoly.´
About JAXX:
JAXX SE, listed in the Prime Standard of Deutsche Börse, is a financial
holding company with holdings in international companies in the gaming
industry. JAXX currently holds interests in companies in Germany, the UK,
Spain, Austria, Malta and Belgium. JAXX SE has its headquarters in Kiel.
The holding companies cover the entire spectrum of the games and gambling
industry. Depending on national regulatory structures, they broker or
market sports and horse betting, lotteries, and casino and poker games. The
shares of JAXX SE have been traded at Deutsche Börse since 1999 under ISIN
DE000A0JRU67.
Contact:
JAXX SE
Investor Relations & Corporate Communications
Stefan Zenker
Tel. +49 (40) 85 37 88 47
Fax +49 (40) 85 37 88 30
Mail stefan.zenker@jaxx.com
End of Corporate News
19.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP´s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: JAXX SE
Jägersberg 23
24103 Kiel
Germany
Phone: +49 (0)431 88 104-0
Fax: +49 (0)431 88 104-40
E-mail: ir@jaxx.com
Internet: www.jaxx-se.com
ISIN: DE000A0JRU67
WKN: A0JRU6
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
153384 19.01.2012
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