SOURCE: Gaming Intelligence Group

Betbrokers plc, the UK's first retail and wholesale brokerage and clearing house for the sports betting industry, has been granted approval by the U.S. Securities and Exchange Commission and from Winning Edge shareholders to acquire the assets and business operations of Winning Edge.

Winning Edge is the trading name of Global Sports Edge International, Inc.

The acquisition will allow Betbrokers to satisfy the growing demand for information on U.S. sports and sports betting to its UK and European customer base.

Whereas betting on sports is illegal in the majority of U.S. states, the provision of data and sports betting information, known as handicapping in the U.S., is legitimate and Winning Edge is a leading player in this growing market.

In turn, Winning Edge will benefit from Betbrokers' offering of European sports information which will satisfy their market needs and enable them to sell this data along side their U.S. information sales.

Under the terms of the agreement, Betbrokers is acquiring all of the operating assets of Winning Edge for a consideration of US$6.8 million payable in Betbrokers' shares. The acquisition is expected to be finalised by Wednesday, 5 September 2007.