• Language:

Press Releases

JAXX SE planning to sell off its lottery business

JAXX SE / Key word(s): Letter of Intent

19.01.2012 / 12:35

JAXX SE planning to sell off its lottery business

- Target price EUR 12.5 million

- Transaction to be completed by end of February

- Consistent focus on the myBet brand with the products sports betting, casino and poker

Kiel, January 19, 2012 - The Kiel-based company JAXX SE today announced ad hoc that it has entered into firm negotiations on the disposal of its Lotteries segment. The listed company says it is planning to sell the investment holdings and assets of its lottery business to a group of investors for a price of EUR 12.5 million. A corresponding provisional agreement was signed today between the Management Board of JAXX SE and the group of investors.

The lottery operations, which comprise the companies JAXX GmbH (Hamburg), JAXX GmbH (Lustenau, Austria), Vendo Spielsysteme GmbH (Lustenau, Austria), fluxx.com Telewette GmbH (Hamburg), JAXX UK Ltd. (London, GB) as well as certain assets of other group companies, are to be sold to the group of investors with economic effect from January 1, 2012. The transaction is to be completed by the end of February 2012. The sale also includes the JAXX domains, JAXX brands and rights relating to the name JAXX, though the change in the name of the disposing parent company JAXX SE is subject to the approval of its Shareholders' Meeting. Spanish lottery business, which is operated by the 70 percent owned subsidiary DIGIDIS S.L., Madrid, is not part of the transaction.

To ensure the smooth handover of business operations, various services such as payments, customer service and IT support will continue to be provided by companies that are part of the group. JAXX SE will thus still share in the future business development of lottery products.

The decision to sell off lottery agency business is based on the group's desire to focus on the business areas of sports betting, casino and poker, which are largely carried by the myBet brand.

'The disposal of lottery business is the logical consequence of our decision to focus on betting business and the myBet brand, which we took at the end of 2010,' explained Mathias Dahms, Management Board spokesman of JAXX SE. 'The opening up of markets throughout Europe offers us excellent growth opportunities - above all for sports betting in Germany. On the other hand the lottery market will continue to struggle for as long as the state maintains its monopoly.'

About JAXX:

JAXX SE, listed in the Prime Standard of Deutsche Börse, is a financial holding company with holdings in international companies in the gaming industry. JAXX currently holds interests in companies in Germany, the UK, Spain, Austria, Malta and Belgium. JAXX SE has its headquarters in Kiel. The holding companies cover the entire spectrum of the games and gambling industry. Depending on national regulatory structures, they broker or market sports and horse betting, lotteries, and casino and poker games. The shares of JAXX SE have been traded at Deutsche Börse since 1999 under ISIN DE000A0JRU67.

Investor Relations & Corporate Communications
Stefan Zenker
Tel. +49 (40) 85 37 88 47
Fax +49 (40) 85 37 88 30
Mail stefan.zenker@jaxx.com

End of Corporate News

19.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

153384  19.01.2012