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Sportingbet Shares Up

19 Oct 2004

UNITED KINGDOM – As reported by This is London: "Professional punters yesterday decided to have a flutter on Sportingbet on hearing that it is in advanced negotiations over the possible acquisition of a 'substantial' online poker business. Undeterred by news that any deal would have to be funded by an equity fund-raising, they chased the shares up 4 1/2p to 104 1/2p.

"Hot gossip suggests Sportingbet, currently capitalised at about £220m (US$396.8 million), is hoping to buy a business based in the Caribbean in a meaty deal worth north of £170m (US$306.6 million).

"…Sportingbet also said yesterday that current trading over the first few weeks of the busy sports season is 'in line with the board's expectations'…"

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