BetBrokers / Corporate Strategies Announce Purchase of Libertarian Wayne Root’s Company

Wayne Allyn Root, candidate for the Libertarian Presidential nomination, has sold the sports betting business he helped build to Betbrokers, according to Corporate Strategies Merchant Bankers. It looks to have been an all-stock deal worth a little more than $6 million.

Here’s the press release from the CNN/Money site...

Corporate Strategies Merchant Bankers announced today that Betbrokers Ltd., the sports betting brokerage and sports risk management company (AIM: BETB) has completed the signing of the final contract to purchase Nevada-based sports information and handicapping company Winning Edge, founded by the Las Vegas sports television celebrity Wayne Allyn Root. Winning Edge has been a client of Corporate Strategies since June 2006. Betbrokers will acquire the assets and business operations of the parent company Global Sports Edge International, Inc. which trades as Winning Edge , for a consideration of USD $6.5 million in Betbrokers shares.

Corporate Strategies CEO Tim Connolly commented, “We are proud to have supported Winning Edge in their strategic plan and sale, and look forward to a stronger, international focus for them and their CEO Wayne Allyn Root in their future with Betbrokers.”

The Betbrokers-Winning Edge deal highlights the trend towards globalisation in the sports industry and the increasing popularity of US sports outside the US. David Beckham’s move to Galaxy; the NFL playing at Wembley on October 28 and Sky set to broadcast American football—are all good examples of this growing trend. The Winning Edge acquisition gives Betbrokers a foothold in the US and access to Winning Edge’s database of over 1 million American sports enthusiasts. Sports handicapping (known as tipping in the UK) is legal in the US and it is widely expected that eventually the US laws on gambling will be relaxed.

Betbrokers CEO Wayne Lochner said, “We are thrilled to be able to offer our wholesale and retail customers unique access to US sports information through the purchase of Winning Edge and last weeks acquisition of The Gold Sheet. We are at the forefront of a new era as globalisation and information technologies combine to bring about unprecedented opportunities. This acquisition is part of Betbrokers vision to bring sports data and sophisticated trading techniques to sports wagers around the world.”

Betbrokers launched in 2005 and was floated on the AIM market in November 2006 (AIM: BETB). The company is the UK’s only telephone sports betting brokerage which effectively acts as an exchange for the entire wholesale and retail market enabling Betbrokers to get the best possible prices for its customers.

About Corporate Strategies, Inc. and Turnaround Partners, Inc. - Turnaround Partners, Inc. provides business growth, organizational restructuring, and turnaround execution services for emerging and re-emerging public companies through our wholly owned subsidiary, Corporate Strategies Merchant Bankers (www.corporate-strategies.net). Turnaround Partners is unique because we accept payment for our services in the common stock of the companies we serve, aligning our interests with those of the client’s shareholders and preserving their corporate cash reserves for working capital and growth.

5 Responses to “BetBrokers / Corporate Strategies Announce Purchase of Libertarian Wayne Root’s Company”

  1. matt Says:

    “It looks to have been an all-stock deal worth a little more than $6 million”

    Interesting…

    Weasel words to start out, the all important phrase “all stock deal” in the middle, and an unverifiable number to finish.

  2. Austin Cassidy Says:

    Weasel words?

  3. matt Says:

    “looks to have been” is a way to avoid bearing the risks of saying “is”, and WAR inspires weasel-tude because of his inherent sketchiness.

  4. Austin Cassidy Says:

    “Looks to have been” was my term, not theirs. I was just reporting entirely on their press release… I don’t have firm first-hand information on the deal or it’s exact terms. The hesitation was unintentional, but stems from a lack of a complete understanding as far as the two companies and this deal are concerned.

  5. matt Says:

    My bad, dude. I wasn’t trying to be a tool, or paint you as a weaseler, I was just trying to make note of the fog that hangs around the things he does.

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