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Sportingbet swings to a loss

6 Jun 2007

LONDON, England -- As reported by the Associated Press: "Online gaming operator Sportingbet PLC said Wednesday it swung to a loss in the third quarter after being forced to quit the U.S. because of legislation that makes online gambling illegal in that country.

"The net loss for the three months through April 30 was 63.1 million pounds ($133 million) compared with a profit of 20.7 million pounds in the same period a year earlier, the company said in a statement. Revenue more than halved to 291.1 million pounds ($613.5 million).

"Margins in May have "been below average due to less favourable results across European soccer," the company said in a statement..."

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