..

Ladbrokes Looking To Buy 888.com

Written by:
Aaron Goldstein
Published on:
Dec/19/2010
Ladbrokes

After a failed attempt to acquire mega online casino company 888.com four years ago, The United Kingdom’s biggest bookmaker, Ladbrokes, is trying once more.

It was revealed Sunday night that Ladbrokes is offering around £240m or 70p a share.  That is nearly half of what they offered four years back but the industry is in constant flux and online casinos in particular have been battered by the current economic crisis. 

The initial deal fell through after fears that 888.com would become a target of US prosecution.  888 has yet to strike a deal with US authorities though they have considered that option.  Rivals PartyGaming and Sportingbet have been settled with the United States government.

An 888.com acquisition would be the first purchase by Ladbrokes since it broke free from the Hilton Hotels group in 2005.

Ladbrokes online business has had a tough time competing with William Hill, the UK’s second biggest bookmaker operation.  This has resulted in a major shakeup of Ladbrokes Internet arm in recent months.   

New Chief Executive Officer Richard Glynn has dubbed his efforts to build the online brand and ultimately compete with the likes of William Hill as “Project Galvanise”.  That plan also calls for doubling the company’s share price in five years.

- Aaron Goldstein, Gambling911.com

 

Business/Financial News

Elon Musk Dubs Himself the "Dogefather" for SNL Promo Tweet

Elon Musk Dubs Himself the "Dogefather" for SNL Promo Tweet

Oddsmakers doubt an SEC investigaton will be launched following Elon Musk's SNL appearance this coming Saturday night, but you can still bet on it.

Hillarious Elon Musk SNL Host Betting Odds

Hillarious Elon Musk SNL Host Betting Odds

Bet on Elon Musk as SNL host.  Everything from what he mentions first, Dogecoin, Tesla, SpaceX and even whether he lands in trouble with the SEC.   Should be a great show.

Gemini Acceptance of Dogecoin Suggests Cryptocurrency Here to Stay

Gemini Acceptance of Dogecoin Suggests Cryptocurrency Here to Stay

Plus Dr. Craig Wright's master class on the variety of ways to extend Bitcoin addresses.

Cryptocurrency ether rose to a fresh record peak on Tuesday before dropping sharply as some investors pulled profits from a white-hot market bulging with questionable new entrants.

'Speculative Excess': Ethereum Finds New Peak in Sizzling Crypto Market

Cryptocurrency ether rose to a fresh record peak on Tuesday before dropping sharply as some investors pulled profits from a white-hot market bulging with questionable new entrants.

Bitcoin Jumps 8%, on Course to Snap Five Days of Losses

Bitcoin Jumps 8%, on Course to Snap Five Days of Losses

Bitcoin jumped as much as 8% on Monday and was on course to snap five straight days of losses, though the cryptocurrency has slumped almost a fifth from its all-time high hit earlier this month.

Syndicate