The Austrian sports betting operator will offer as many as 4 million new shares, raising up to EUR 300 million, to help finance the cash part of the acquisition of Swedish online poker operator Ongame.
BetandWin has also secured a EUR 100 million, 2-year credit facility with Royal Bank of Scotland to increase its financial flexibility.
The Austrian sportsbook is one of the survivors of the internet bubble. Its shares reached EUR 17 at the height of the bubble in March 2000, then fell 92 per cent in 18 months. From a low of EUR 1.40 in 2001, they rose to almost EUR 100 now, giving the firm a market capitalization of EUR 2.4 billion.
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