Further to the Company’s announcement on 1 February 2018 regarding the potential acquisition of RULEO Alpenland GmbH, a company that operates a sportsbook under the brand btty.com, the Board of Veltyco Group PLC (LON:VLTY) today announced that whilst due diligence work and formal documentation is at an advanced stage, they are not yet completed and accordingly, completion of the acquisition has been delayed but is expected to complete shortly. Although the exclusivity period expired on 15 March, both parties are fully committed to complete the transaction shortly.
The Company will provide further updates as appropriate.
Veltyco is a group of companies focused on generating marketing leads and entering into marketing contracts for the activities of various partners in the gaming industry as well as operating its own brands. Veltyco focuses on complementary activities under one umbrella, leveraging its historical cash generative activities of marketing online casinos and sports betting.