Romanian betting and gambling group Stanleybet issues bonds to expand

Stanleybet Capital, the holding that operates Game World Group - a major player in Romania's sports betting and gambling, wants to raise EUR 2.5-4 mln through a private placement of bonds denominated in local currency (RON), unsubordinated, unsecured, non-convertible and with a maturity of 3 years. The private placement will run from July 27 to August 30.

The company hasn't said whether the bonds would be listed at Bucharest Stock Exchange (BVB) - but it wouldn't be the first gambling operator at BVB since Superbet listed its bonds at BVB in 2017 (Superbet bonds matured in 2020).

The funding will be used to support the group's accelerated growth over the next three years, as Stanleybet Capital's management aims for a turnover of RON 600 mln (EUR 120 mln) in 2024. The funds raised will be invested in optimizing the online sports betting and gambling platform, expanding and digitizing the Stanleybet sports network of betting agencies, implementing mobile applications, and developing the Stanleybet Plus network of premium agencies.

For this year, the management of the Game World / Stanleybet Capital group estimates revenue of approximately RON 418 mln (double compared to 2020) and a net profit of RON 37.8 mln (EUR 7.5 mln). For 2024, the group's management aims at a revenue of RON 600 mln and a net profit of RON 83 mln (EUR 16.5 mln).

Stanleybet Capital was established in November last year as an entity (holding company) with an integrative role for the business lines that had been developed since 1999 on the gambling and sports betting market in Romania by the companies from the Game World group.

The Game World / Stanleybet Capital group includes the companies Game World Romania SRL, Game World Invest Westgate Romania SRL, WAP Holdings Romania SRL and Megabet Internațional SRL (for the online division).

(Photo source: Iryna Drozd/Dreamstime.com)