Mangas Gaming takes over bet-at-home.com

Mangas Gaming SAS, a French gambling group with interests in online gaming and sports betting has signed an agreement to acquire a controlling stake in Bet-at-home.com AG. from its founders Franz Omer and Jochen Dickinger, and that it will launch a public offer to acquire the shares held by the minority shareholders.

Bet-at-home is one of the most successful online sports betting, poker and casino operations in Germany, Austria and Eastern Europe.

In a statement Friday, Mangas reported that the completion of the Bet-at-home acquisition and tender offer is subject to certain conditions.

"We are happy to welcome Mangas Gaming as shareholder of Bet-at-home.com AG which gives bet-at-home.com AG the opportunity to join one of the leading online gaming and betting networks in Europe. We also appreciate that the shareholders of Bet-at-home.com AG are given the opportunity to sell their shares to Mangas Gaming." said Bet-at-home founders Franz Omer and Jochen Dickinger in a joint statement.

Mangas Gaming is offering all shareholders of Bet-at-home.com AG the chance to sell their shares for Euro 11.2 per share - a premium of 29 percent over the one month average share price of the firm, computed as of March 4th, 2009 and 52 percent over the six-month average share price.

The offer period will run from March 11th, 2009 until April 7th, 2009. More details are published on the website http://www.bet-at-home.ag.

"After the acquisition of Betclic in 2008 and the recent announcement of the acquisition of Expekt, one of the leading online betting and gaming company in Scandinavia, this transaction perfectly complements the Mangas Gaming strategy of creating a strong European-wide network of online sports betting and gaming operations", said Isabelle Parize, Chief Executive Officer of Mangas Gaming.

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