BetWWTS Privatisation Near?
Published: Saturday, October 14, 2006 Online-Casinos.com
BetWWTS PRIVATISATION NEAR?
As parent Betcorp bails out of the US market, new opportunities open up
The announcement that BetCorp.com, parent company of BetWWTS.com, will no longer accept bets from US customers has been followed with unconfirmed reports that BetWWTS.com could be privatised early next week.
Betcorp, along with other publicly listed online gambling companies experienced serious declines in company share price following the unexpected US legislative moves on the last day of September, which were signed into US law by the president yesterday (Friday)
Gambling911 reports that a representative from BetCorp, who wished not to be identified, offered encouraging news on the future of BetWWTS.
"An announcement will be made first thing Monday morning. There are three suitors, two of whom I am familiar with, one of whom I did not know about. These groups are each looking to take over BetWWTS.com and all other Betcom US facing brands. It is not a matter of if or when this will take place but rather who will ultimately end up taking over."
The representative emphasised that the company was in a strong position to meet all of its obligations to players and has "...absolutely zero debt and plenty of money in reserve."
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