The UK-based gambling portal owner has raised £10m through a placing of 71.5 million new shares.
To further increase liquidity, over 30 million ordinary shares were placed on behalf of existing shareholders in the process of reducing management shareholdings by approximately 50 per cent.
The net proceeds will be used to fund the ongoing expansion of the company\’s existing business and to develop a mobile casino and in-house poker business.
“As we enter an exciting new phase of Gaming Corporation\’s development we have decided to accelerate our plans to invest in our existing businesses and to have funds available to enable us to effectively take advantage of acquisition opportunities as they arise,” said CEO Justin Drummond.
The share price rose strongly during the week on the back of take-over rumours.
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