Sportingbet Entertaining Offers For Us Business

[robertg]

just read on yahoo business. lack computer savy. cant post link

[robertg]

fresh article from "the guardian" says Mansion is believed to be serious bidder for sportingbet's US facing business.

[The Judge]

Sportingbet sells off US-facing websites
By: Simon Bowers
Wednesday October 11, 2006
The Guardian

Sportingbet is selling its US-facing websites before George Bush signs into law legislation which will stop banks facilitating online gambling.

Within days, it will close down these sites, which generated 62% of Sportingbet's gross win, if it cannot secure a deal. Sportingbet is the largest sports betting service in the US and the third largest online poker group.

Several approaches, believed to be from private operators, have been made for the US business but Sportingbet warned they were unlikely to result in significant cash proceeds.

If it is unable to secure a deal before the US president signs the legislation - which he is likely to do this week - Sportingbet is expected to close its US-facing operations based in Costa Rica and Antigua.

Asked last month about regulatory perils of operating in the US, Sportingbet's chief executive designate Andy McIver said: "It's the US - or what's the point? I still hold that view."

Since then, however, the passing of prohibitionist legislation through the senate rocked the industry. It prompted many operators, including PartyGaming and 888, to tell investors they would pull out of America.

Officially, Sportingbet is still evaluating its options but managers are understood to have dismissed the idea of continuing in the US. They believe it is an unrealistic option for a publicly listed company.

Meanwhile, Daniel Stewart replaced Dresdner Kleinwort as Sportingbet's nominated advisers.

Potential bidders for Sportingbet may include Indonesian former clove cigarette tycoon Putera Sampoerna, who is behind rival online operator Mansion Casinos. He is also rumoured to be considering an offer for PartyGaming.

Costa Rican-based online betting entrepreneur Scott Barrett could also be interested.

[robertg]

Judge,
who is scott barret affiliated with?

[robertg]

i notice their stock fell from 75 to 65 today. very glad I got my money out last week.

[The Judge]

Originally Posted by robertg

Judge,
who is scott barret affiliated with?

One of the founders of BetMaker.com.