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.