MTG completes sale of Bet24

May 3 2012

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, today announced that it has completed the sale of its Bet24 operations to Unibet Group plc.

MTG has received 80% of the total consideration EUR 13.5 million in cash, with the remaining 20% to be paid by 30 June, 2012, subject to the fulfilment of certain contractual conditions.

Bet24 reported gross sales of EUR 49 million for the full year 2011, with gross winnings of approximately EUR 10.5 million and an operating profit of EUR 0.2 million.

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