BWIN Ends Takeover Talks With Sportingbet

Today it was announced that a talks of a possible takeover of the online gaming group Sportingbet by Austrian internet bookmaker, BWIN have ended by mutual consent.

Facing regulatory uncertainties in Europe, and the ban on internet gambling by the United States, publicly traded, as well as privately held corporations have encountered many problems for firms looking to consolidate operations in order to boost growth.

Sportingbet left the U.S. market in October 2006 when the U.S. passed the UIGEA, thereby causing a major reduction in revenues.

In April, bookmaker Ladbrokes backed out of takeover talks with 888.com partly due to possible retrospective prosecution by the U.S.

The far-reaching effect of the U.S. ban on internet gambling is now affecting the business community as well as shareholders of publicly traded companies. Many shareholders have become victims of U.S. law due to protectionism tactics imposed by that government. This protectionism has caused share prices of publicly traded companies to plummet since it was signed into law.

July 4, 2007
Posted By Susan Torres
Staff Editor, CasinoGamblingWeb.com
Submit News!

Delaware Still Lobbying for Sportsbooks
College World Series: Rice Comes Back, Beats Georgia, 6-4
CNN Promotes Bodog Along With Paris Hilton Larry King Interview
US Betting on Paris Hilton as Most Important News in the Country
San Antonio Spurs Getting Ready To Join Elite of NBA History