Powerbet Gaming Acquisition by Sun International Possible

An announcement came this week from South African listed hotel and gaming group Sun International regarding its proposal to acquire online fixed-odds sports betting operator Powerbet Gaming (PBG), which owns and operates Voltbet (.com).

According to the group, online sports betting has been identified as a fast growing sector within the gaming industry so it has started looking into all the synergistic opportunities between it and its other terrestrial gaming interests.

In its statement, the company revealed that "Powerbet provides the ideal platform to accelerate the group’s entry into the online gaming market," which is why it has proposed the acquisition of 100 percent of Purple Capital Gaming Interests’ issued share capital and shareholder loan accounts for a consideration of R30 million in cash (US$3 278 880).

Purple Capital Gaming Interests include Powerbet Gaming Limited, the software developed and operated by PBG, the associated license issued by the Western Cape Racing and Gambling Board and Purple Gaming Limited which holds a bookmaking license in Tanzania.

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