..

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

 Regulators Jumping on Stablecoins....Hmmm We Wonder Why (Sarcasm)

Regulators Jumping on Stablecoins....Hmmm We Wonder Why (Sarcasm)

Having been covering the online gambling scene for more than two decades, we know the signs.  Let's just say we've seen the apology from TERRA's founder countless numbers of times.  It's the same 'ol script.  It never ends well and never will.

Craig Wright vs. Peter McCormack Libel Trial Gets Underway

Craig Wright vs. Peter McCormack Libel Trial Gets Underway

Meanwhile, the BSV Blockchain Conference is about to get underway in Dubai as the CoinGeek team gathers there.  Gaming is expected to take center stage.

Find Elon Musk Twitter Odds: Promises to Allow Trump Back on Platform

Find Elon Musk Twitter Odds: Twitter Acquisition No Longer a Sure Thing

Elon Musk has closed on deal worth around $44 billion in cash, Reuters reports.  Musk now says he wants to slash Twitter offer based on the number of bots.

Dow Jones Betting Total Closing Day June 30 Now 32250.5 Points

Dow Jones Betting Total Closing Day June 30 Now 32250.5 Points

The Dow sank 1,000 points on Wednesday, or 3.2%, as dismal results from Target renew fears that inflation is battering companies.

Betting Markets Indicate No Musk Takeover and Falling Twitter Stock

Betting Markets Indicate No Musk Takeover and Falling Twitter Stock

Elon Musk taking over Twitter seems like a 50-50 proposition at this point, but the people who crunch numbers for a living are giving it even less of a chance.

Syndicate