Ladbrokes - 888.Com Deal In Trouble?
Published: Tuesday, March 06, 2007 Online-Casinos.com
LADBROKES - 888.COM DEAL IN TROUBLE?
US situation a serious problem
Under the headline 'Number's up for 888.com buyout', the Sunday Telegraph reported at the weekend that Ladbrokes' GBP470 million much talked about takeover of Gibraltar-based 888.com had run into trouble. The Telegraph quotes several sources close to the deal as saying the spectre of US litigation over 888.com's previous trading in America remains a sticking point that is insurmountable.
The US Congress outlawed internet gambling financial transactions last year, prompting the US Department of Justice to adopt a more aggressive approach to Internet gambling offshore and issue subpoenas to UK investment banks and lawyers, requesting paperwork and emails linked to the former activities of UK online gaming companies including 888.com.
Ladbrokes chief executive Christopher Bell is thought to have become nervous about the deal when John Anderson, 888.com's non-executive director and former chief executive, was one of several online gaming executives called to answer questions by French authorities (see previous Online-Casinos.com/InfoPowa reports)
