Sportingbet Will Meet Analyst's Expectations
Published: Friday, December 15, 2006 Online-Casinos.com
SPORTINGBET WILL MEET ANAYLST'S EXPECTATIONS
It's been a tough phase, but the Brit business group is enjoying a successful fight-back.
Sportingbet plc was one of the UK publicly listed companies hardest hit by the advent of the UIGEA, which forced the group to withdraw from a US market that provided most of its profit, and sell off US-facing interests only months ago.
Since then it has been changing market focus and pace, and this week a spokesman revealed that it expects to meet analysts' full-year earnings forecasts even after disposing of its U.S. operations.
"Sportingbet is trading in line with market expectations," the spokesman said.
Sportingbet had to exit the lucrative U.S. market, selling its sports-betting, casino business and poker operations in October to Antigua-based Jazette Enterprises Ltd. on the day that U.S. President George W. Bush signed a law that criminalises online gambling fund transfers.
Associated Press reports that currently 8 U.S. states have laws specifically prohibiting Internet gambling: Washington, Nevada, Illinois, Indiana, Louisiana, South Dakota, Michigan and Oregon.
