Shares digital

Interactive gaming group NetPlay TV (NPT:AIM) has conditionally bought Bingos.com, a pan-European online bingo operator with more than one million registered players.

Based in Majorca, the business currently operates in the UK, Spain and Poland. Last July, NetPlay launched the world’s first truly interactive ‘live’ bingo television show, BigBoxBingo, which is currently shown on Sky.

Now, thanks to this latest acquisition, NetPlay’s position in the fast-growing interactive bingo market will be further strengthened. It will also boost the company’s ability to offer a converged television, internet and mobile platform for the bingo consumer.

Alongside its range of bingo games, the Bingos business provides a suite of 47 different online casino-style games, such as slots, table poker, keno and blackjack, giving NetPlay even more to offer its customers.

The acquisition will be effected by NetPlay TV buying the trade and assets of the Bingos business from Global Gaming Entertainment and Euro Gaming, as well as the entire share capital of Quantum Factory for £6.3 million. The deal will be funded through a conditional equity placing of 40 million new shares at 15p a share.

Chairman and chief executive, Martin Higginson, has conditionally invested £2 million, taking his total interest to 25.6% of the enlarged share capital.

Spanish mobile entertainment company Zed Worldwide has similarly conditionally invested £2 million to give it an 11.2% stake, while other investments have been made by Gartmore Investment and Schroder Investment Management.

The acquisition and placing is conditional on the passing of resolutions at an upcoming NetPlay EGM. ‘With this landmark acquisition, NetPlay is now starting to become a major player in the interactive gaming market,’ says Higginson. The shares ticked up to 16.3p.

Shares says: A solid acquisition which will broaden NetPlay’s offering.