Betdirect A Target For Mansion Gambling Group
Published: Tuesday, April 11, 2006 Online-Casinos.com
BETDIRECT A TARGET FOR MANSION ONLINE GAMBLINE GROUP
Multi million dollar offer rumoured
Ending last week on a high speculative note were strong rumours that the Indonesian
owned but Gibraltar based Mansion gambling group is interested in acquiring
online sportsbook BetDirect.
The rumours were given impetus by Mansion's stated goal of using acquisition tactics
to expand its gambling product offerings, a "no comment" position from
the BetDirect parent group and street talk that an offer as high as GBP 10
million had already been made.
Mansion can certainly afford the action. The owner and major shareholder, Indonesian
billionaire Putera Sampoerna (58) is one of the world's richest men, and
last year sold his cigarette business to Philip Morris for GBP 3 billion. He is
also believed to be counting out GBP 120 million to buy the Les Ambassadeurs
Casino in London's Mayfair. Mansion recently signed a GBP 40 million poker
tournament deal with American giants television company Fox Sports Network.
Due to a controversial last-minute switch by Manchester United last week, a deal
through which Mansion was offering a $70 million shirt sponsorship fell through.
The proposed deal included a healthy cash element, so Mansion will have good liquidity
at present.
BetDirect's parent is Sportech, which also owns UK-based Littlewoods
Gaming. Ian Penrose, the CEO at Sportech said recently that he was
reviewing all the strategic options open to his company, but on being asked about
the rumoured Mansion bid for BetDirect he declined to comment.
