SportingBet Considering Potential Buyers
Published: Wednesday, October 11, 2006 Online-Casinos.com
SPORTINGBET CONSIDERING POTENTIAL BUYERS
But the deal would have to be concluded this week before that Act is signed into law
The board of directors of the British public betting group Sportingbet is considering a number of approaches from potential buyers of its US-facing businesses, the company revealed in a website notice today (Wednesday)
The board of directors and its advisors are currently in the process of concluding a legal and strategic review with regard to the Unlawful Internet Gambling Enforcement Act of 2006, and are of the view that any potential sale would have to be agreed on and signed by the end of this week, before President George W. Bush signs the Unlawful Internet Gambling Enforcement Act and makes it law.
The statement ends with the cautionary comment: "Based on the approaches received to date however, it is unlikely that any such sale will realise significant cash consideration. A further announcement will be issued in due course."
In a separate notice, Sportingbet Plc announced the appointment, with immediate effect, of Daniel Stewart & Co plc as its Nominated Adviser and Broker.
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