..

Sportingbet Has Sold Its Turkish Business to GVC Sports

Written by:
Aaron Goldstein
Published on:
Oct/14/2011
Sportingbet

Following news this week that takeover talks involving Ladbrokes had fallen through, Sportingbet has sold its Turkish sports betting business to GVC Sports for €142.5m.  Gambling restrictions in that nation forced the sale.

Andy McIver, Sportingbet’s chief executive, offered the following statement:

“Given our other big markets, Spain and Greece, have recently regulated their gambling markets, Turkey was the one which stood out [and] that has often been cited as an overhang on our equity,” he said. “So it was a question of when, not if.”

Sportingbet shares rose 2.58 per cent, or 1p, to 39.75p in London following the news.

Nick Batram, an analyst at Peel Hunt, told the Financial Times that Sportingbet’s equity could receive a boost as a result of the sale.

“The disposal of Turkey is to be welcomed and the price looks compelling as well,” he said. “The deal will be dilutive from an earnings perspective, but with over 70 per cent of the company’s revenues from regulated markets I expect there will be a significant re-rating with regard to the shares.”

- Aaron Goldstein, Gambling911.com

 

Gambling News

Eagles Win Against Cowboys: 70 Percent Action on Dallas But Line Coming Down?

Eagles Win Against Cowboys: 70 Percent Action on Dallas But Line Coming Down?

Gambling911.com is suddenly liking the Philadelphia Eagles to cover against the Dallas Cowboys Monday night.

Updated Division, Conference and Super Bowl Odds 2021-2022

Updated Division, Conference and Super Bowl Odds 2021-2022

For the first time since Patrick Mahomes became the starting quarterback in Kansas City, the Chiefs have a losing record. But that hasn't changed the team's season forecast, at least according to the odds.

NFL Week 3 MNF Odds – Philadelphia Eagles at Dallas Cowboys

NFL Week 3 MNF Odds – Philadelphia Eagles at Dallas Cowboys

We’re only in Week 3 of the NFL season but the winner of Monday night’s game between the Philadelphia Eagles and Dallas Cowboys will have sole possession of first place in the NFC East. This is a big deal since last year’s division champ finished with only seven wins and at least at the outset the group as a whole doesn’t appear all that much better. Again, it’s early and things can change, but the Cowboys look like a different team with Dak Prescott behind center.

Esports bookmaker announces esports betting statistics

Esports bookmaker announces esports betting statistics

LOOT.BET, a bookmaker specialising in esports betting, has released an analysis of the previous year's esports betting statistics, with well-known skin gambling games such as those on

Clemson's Massive Drop in Latest CFP Odds

Clemson's Massive Drop in Latest CFP Odds

It appears Clemson won't be in the College Football Playoff for the first time since the tournament's inaugural year.

Syndicate