Atlas African Industries Limited Increases Interest in BonanzaWin (3692L)
30 September 2016 - 2:05PM
UK Regulatory
TIDMAAI
RNS Number : 3692L
Atlas African Industries Limited
30 September 2016
Atlas African Industries Limited / Ticker: AAI / Index: AIM and
NSE / Sector: Support Services
30 September 2016
Atlas African Industries Limited ('Atlas' or the 'Company')
Increases Interest in BonanzaWin
Atlas African Industries Ltd (AIM, NSE: AAI), is pleased to
announce that it has increased its interest in BonanzaWin, a
Nigerian based gaming company offering a range of
"bricks-and-mortar" and online play gaming experiences, including
sports betting, live casino, slot games, virtual games and football
pools lottery, targeting the growing Nigerian consumer market.
The current investment has been effected through a share
subscription and capital contribution into Equatorial Partners
Limited ('EPL'), a Maltese holding company which in turn holds a
60% stake in Saerimner Ltd ('Saerimner'), a Nigerian registered
company operating under the trading name "BonanzaWin". Following an
initial investment in August 2016 (see announcement dated 1 August
2016), Atlas has invested a further $200,000 in EPL, increasing
Atlas' total interest in EPL from 10% to 13.5%.
BonanzaWin has established a portfolio of gaming businesses
currently focussed on the Nigerian market. It operates a secure
online gaming platform - www.bonanzawin.com - which powers a wide
range of games, including sports betting, as well as three
"bricks-and-mortar" gaming shops in Lagos where customers can play
and place bets. BonanzaWin is licenced and regulated by the Lagos
State Lotteries Board and the Lagos State Ministry of Finance to
operate its gaming business in Nigeria. For the 12-month period
ended 31 December 2015 EPL reported a loss of US$300,815.
Carl Esprey, CEO of Atlas said, "With rising incomes leading to
the emergence of a growing and significant consumer market across
the African continent, we have identified BonanzaWin as a
prospective growth opportunity, which provides Atlas with exposure
to the Nigerian gaming and entertainment sector. Accordingly, we
are delighted to have further increased our interest in this
business. BonanzaWin has built a successful operating platform,
which offers a range of established games and betting experiences
and our focus is now on building value within the business, by
growing user numbers and increasing average user spend, in line
with the positive growth projections for the industry."
About BonanzaWin
BonanzaWin is a well-respected and trusted gaming operator,
committed to delivering its members the best sports betting
platform available as well as offering the latest casino and slot
games, lotto and live casino experience. The company offers
competitive odds, desktop and mobile betting, generous welcome
offers, as well as fun and exciting promotions on a regular
basis.
BonanzaWin is licenced and regulated by the Lagos State Lottery
Board and the Ministry of Finance and adheres to strict rules and
regulations. BonanzaWin is continuously striving to bring its
members the best possible gaming experience.
For further information please see www.bonanzawin.com
This announcement contains inside information.
**ENDS**
For further information please visit www.atlassupport.com or
contact:
Carl Esprey Atlas African Industries Tel: +44 (0)
Limited 20 7408 9200
Callum Stewart Stifel Nicolaus Europe Tel: +44 (0)
Limited 20 7710 7600
Ashton Clanfield Stifel Nicolaus Europe Tel: +44 (0)
Limited 20 7710 7600
Edward Burbidge Burbidge Capital Tel: +254 (0)
202 100 102
Susie Geliher St Brides Partners Tel: +44 (0)
Ltd 20 7236 1177
Charlotte St Brides Partners Tel: +44 (0)
Page Ltd 20 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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