Casino Choice UK News Archive


Sportingbet say Empire acquisition is unlikely

The company, which already has its own online poker room, as well as an online casino and bookmakers, was involved in an attempted takeover earlier this year, but pulled out after a collapse in internet gambling stocks.

PartyGaming – the company behind PartyPoker.com – are widely blamed for causing that collapse, after issuing a profit warning. Recently PartyGaming made a takeover bid themselves but their offer of 60p-a-share was flatly rejected – Sportingbet had offered 270p-a-share just two months previously.

Yesterday Sportingbet’s Finance Director, Andrew McIver, played down the chances of his company making another offer whilst confirming its interest in general acquisitions, saying: “I think we have moved on from there. But the industry is ripe for consolidation, and we are a natural acquirer.”

Sportingbet has already acquired Paradise Poker, and yesterday gave the online gambling industry a boost when it reported that its rake from Paradise Poker had increased by 88 per cent. It also reported that pre-tax profits for Sportingbet had jumped from £2.6 million to £14.3 million for the three month period ending in November.
Submitted: 01/12/05 at 12:16:53

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