Friday, October 06, 2006

The first online gambling company to be approached in a possible buy off was
UKBetting, owner of a gambling website - UkBetting.com - and several smaller
betting and gambling news portals such as Football365.com, SportingLife.com,
TeamTalk.com, and Golf365.com. UKBetting only dropped 6% of its share price
off the London stock exchange as it assured holders Monday that it relied on
basically no US customers for income. As one of the few gambling companies
that only targets the UK, Europe, and other non-US entities, UKBetting is an
attractive company to other much larger businesses that were seriously
affected by the US ban, such as Party Gaming and 888. UKBetting did not
reveal who approached them Thursday and they did not reveal if they were
interested in being bought out, however, the fact that they were approached
is the first sign of a massive consolidation in the industry. After the news
of the possible buyout of UKBetting was revealed, their stock increased 12%
within just a few hours.