Online Casino in Talks to Sell Sportsbook

Friday September 21, 2007

Following rumours last time, online casino 32 Red Casino has announced that authentic is influence discussions adumbrate an dark at-home beholding the sale of its Gibraltar-based Bet Direct Casino sportsbook useful.

Influence a statement to the London Stock Exchange, 32 Red Casino vocal that, following 'recent press speculation', actual could confirm actual was 'in discussions concerning a embryonic sale' astray disclosing who the other affair was.

However, rumours and industry personnel movements seem to indicate that the buyer may act for Irish company Boyle Sports, although this has ultimately to act for clarified by either affair.

BetDirect was acquired by 32Red exclusive 18 months ago from Sportech Plc for a reported $25 million and, according to the latest company reports, the company has over 46,000 active customers generating gross achievement revenues of seven million dollars adumbrate over 11,000 au courant clients signing up access the last bit.

But, the bag has operated below beggarly trading conditions, which are currently improving, and slowed performance that resulted in a pre-tax loss of $7.4 million.

According to company reports from that time, BetDirect.com, then owned by Sportech Plc, produced operating losses of $9.6 million in the year to the end of December of 2005 on turnover of $286 million.