MTG completes Bet24 sale

Modern Times Group (MTG) has completed the sale of its betting arm Bet24 to Unibet.

The company received €10.8 million as part of the initial transaction and the remaining 20% will be paid by June 30, 2012, subject to the fulfillment of certain contractual conditions. MTG announced its intention to sell the betting arm in April as it looks to focus on its core broadcasting operations.