One Internet Gambling Company Approached, Many More to Come
The first online gambling company to be approached in a possible buy off was UKBetting, owner of a gambling website - UkBetting.com - and several smaller betting and gambling news portals such as Football365.com, SportingLife.com, TeamTalk.com, and Golf365.com.
UKBetting only dropped 6% of its share price off the London stock exchange as it assured holders Monday that it relied on basically no US customers for income.
As one of the few gambling companies that only targets the UK, Europe, and other non-US entities, UKBetting is an attractive company to other much larger businesses that were seriously affected by the US ban, such as Party Gaming and 888.
UKBetting did not reveal who approached them Thursday and they did not reveal if they were interested in being bought out, however, the fact that they were approached is the first sign of a massive consolidation in the industry.
After the news of the possible buyout of UKBetting was revealed, their stock increased 12% within just a few hours.
October 5, 2006
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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