online betting logo
Online Betting Best Online Bookmakers Betting Bonus Betting News Betting Tips
jump to content

Sportingbet Takeover – Bookmaker News

William Hill has second thoughts over Sportingbet value

11th December 2012 / paul
Bookmaker News

William Hill have been told to put up or shut up regarding their proposed takeover of Sportingbet.

Talks have reached crisis point with Hills and GVC trying to secure a cut-price deal  after Sportingbet produced disappointing results in the last quarter (profits are down 35 per cent). The new terms, a joint cash and shares bid, is said to be worth £485m,  £45m less than was previously offered. The parties have agreed a further week to finalise terms but it’s thought the new deal will be more attractive to Sportingbet shareholders. Company founder Mark Blandford is among several who would prefer to take up the maximum amount of GVC shares being made available meaning minor shareholders would be able to cash in on the cash component of the deal, currently worth more than 50p a share.

Sportingbet clearly want to sell and William Hill are desperate to get their hands on their Australian business, which is free from the regulatory problems that hamper operations in Europe and the US. So unless a last-minute bid comes in from elsewhere, a change of ownership seems a formality.

Talking of Europe, William Hill have announced that it is pulling out of the Greek market despite making a profit in the last financial year. The country’s chronic financial problems are old news but there is now confusion over gambling permits and tax liabilities. The authorities are threatening financial penalties against bookmakers who don’t have their paperwork in order but there’s confusion in the system and some have clearly decided they’d rather not trade than risk a hefty fine. Betfair also pulled the plug on their Greek operation last month, citing issues with the Greek Gambling Commission as their reason for quitting. The decision could cost Betfair as much as £13m in revenue over the next year but Greece is the second EU nation to lose betting access this year, German punters having their access to the betting exchange halted in July because of a new levy on sporting events.



Coral
Buckingham Palace denies Queen Abdication rumours as Coral suspends betting
 - Buckingham Palace deny rumours of adbication at Christmas
Boylesports
Boylesports remain ‘committed’ to Ireland
 - Dundalk headquarters will stay
Skybet
Transfer-embargoed Forest win Sky Bet transfer fund
 - Tricky Trees ironic winners of transfer kitty
William Hill
William Hill punter beat massive 10,981/1 odds
 - £21 stake turned into over £220k
Bookmaker News
Bookies get it wrong as Hamilton wins 2014 SPOTY award
 - Hamilton beats out McIlroy for public vote
Bookmaker News
More delays for Irish tax plans for online betting
 - Grace period extended as legislation hits new road block










Tags: ,

Print This Post Print This Post

Injuries and Suspensions
Our EPL injuries & suspensions - always up to date!
Sports Betting Strategies
Sports betting strategies - winning bets with strategy!
Betting Explained
Betting terms explained - understand the terminology!
System Bets Calculator
Bet successfully with the best system bets calculator!
  Online Betting Free Bet Details Betting Articles Betting Companies Sportingbet Bet365  
  In Play Betting Betting odds explained Sitemap Paddy Power William Hill  
Great success with your Online Betting - 2005-2014 online - betting .me.uk