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Betcorp shares up

20 Oct 2006

UNITED STATES – As reported by the Australia Age: "Betcorp shares staged a major recovery after reports it had sold its US sports betting operation to a Costa Rican company for $US9 million ($A12 million).

"The shares jumped 15¢ to 41¢ following the reports from US websites. Not much was expected from the sale after Sportingbet, listed in Britain, sold its US business for $US1 last week. The sale allowed it to discharge liabilities of $US13.2 million and avoid a closure bill of $US14 million, it said.

"The rumoured buyer of Betcorp's WWTS business is Bodog, which does not plan to comply with the US ban on online gambling services…"

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