All Bets Are Off: Sportingbet - BWIN Talks End

In a brief statement, Sportingbet declared their discussions with BWIN, "have now been mutually and amicably discontinued." With talks beginning in March of this year, BWIN was expected to make an offer for the acquisition of Sportingbet.


The outcome of these talks was foreshadowed by Sportingbet's quarterly results, revealed June 6, 2007. Since the Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in 2006, Sportingbet lost it's most profitable venue - the US market. Complex legal, regulatory and operational issues were cited as the cause for Sportingbet's openness to bids.


The companies shares have plummeted like a skydiver without a 'chute since May of last year. Shares worth 450p had since dropped to 50p, where they remained fairly stable. They fell 2.25p today, currently standing at 56.5p. A recovery for the once aspiring online gambling operation is
highly doubtful, says many analysts.