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***GambLux EDITOR NEWS*** |
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Sportingbet stock rises, considers parterning
[Friday, March 23, 2007]
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With the disappointment of the US closing its doors to gamers and gambling vendors, a huge portion of the online gambling world saw it as a huge downfall to the future of virtual casino gaming.
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Yet, Sportingbet Plc, instead of looking at the amount of money it was losing, before forced out of the US market announced to the London Stock Exchange this week of a potential offer with the Bwin Interactive Entertainment AG.
Results showed that shares of Sportingbet rose almost 14 percent on Wednesday as believed that also a possible 65 pence-a-share approach from Bwin Interactive Entertainment AG, an Austrian Web bookmaker, according to Thursday's Daily Mail, without divulging the source of the information.
The approach to shareholding is seen to be in a preliminary stage of partnering. Sportingbet, however refuses to give further information and Bwin declined commenting on the matter. There is also the possibility of other companies being involve, which 'doesn't exclude the possibility of purchases.'
Sportingbet shares rose as much as 7.25 pence to 58.5 pence and traded at 58 pence as of 10:25 a.m.in London, giving the UK company a market value of £251 million ($482 million). Bwin's stock advanced €2.7, or 10 percent, to €29.70 in Vienna, the day's highest stock.
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