UKBetting Sports Sites Up for Grabs?

In an official press release issued yesterday morning to the London Stock Exchange, UKBetting plc - the owner of a major UK-facing sportsbetting website, other sports oriented websites and also the operator of UKBetting Poker (the former sponsor of top European poker professional, Simon Trumper) - announced that it has been approached by parties interested in buying the business.

The official statement simply reads:

"ukbetting plc ('ukbetting' or the 'Company') has noted recent press speculation regarding the possibility of an offer being made for the Company.

The board of ukbetting can confirm that it has received preliminary approaches expressing interest in formulating an offer for the Company.

There can be no certainty that any formal approach to the Company and, consequently, any offer will be forthcoming."

The press speculation it refers to was published in the leading UK newspaper, The Daily Telegraph, and stated that UKBetting has appointed a Swiss investment bank, UBS, to handle unsolicited approaches for the business. The newspaper report speculates that "several media groups and online gaming businesses could be interested in ukbetting's content division."

UKBetting owns some major media websites in the UK including popular football site Teamtalk.com, and leading sports and horseracing betting brand Sportinglife.com. The Daily Telegraph cites "banking sources" as saying that News Corporation could be a potential bidder for such content. It also says that "online gaming groups interested in marketing their betting sites with sports content have also been tipped as acquirers."

In addition, the newspaper cites "sources" as saying that "ukbetting is also in the process of selling its internet betting arm. One previously mooted bidder has been the online gaming giant PartyGaming. Ukbetting has been unaffected by American legislation because it does not take bets [in] the US."

Only last week, UKBetting itself announced the acquisition of upmarket online casino, The Ritz Club London Online (which, following the acquisition by UKBetting, will have no connection with the land-based casino, The Ritz Club, operating from The Ritz Hotel, London).

It is interesting to note the emphasis now being placed by companies on the "non-USA" aspects of their online businesses since last weekend's passing by Congress of the "Unlawful Internet Gambling Enforcement Act of 2006"! At the time of the Ritz Club announcement, Peter Dubens, Chairman of UKBetting plc said;

"We welcome all the Ritz online casino customers who will continue to receive the same excellent service that they have done historically. UKBetting plc continues to follow its policy of not taking online gambling from the USA, as does The Ritz Club London Online."

It seems inevitable with the upheaval in online betting in the USA that there will be many websites changing hands over the coming months so this is a good time to keep an eye on who runs your sportsbetting accounts and the incentives on offer to keep you there or to transfer elsewhere.

Ed note: Big incentives are on offer at Mansion Sports Exchange with 0% commission to buyers!

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