According to sources, Sportingbet, the internet gambling group has denied the joint offer for acquisition that was presented by GVC Holdings and William Hill. This proposed offer from the two gambling groups is certainly going to be commented on by the management of Sportingbet when they publish the full year results of the company later today.
The shares of Sportingbet that were also a bid target for the biggest British bookmakers, Ladbrokes has skyrocketed by sixteen percent since the rumors about the acquisition was confirmed by the three companies involved. Following the confirmation, Sportingbet advised the shareholders not to react with haste. According to the rules and regulations of the stock exchange, GVC and William Hill are going to have to declare their intention to make an offer by the 16th of October which gives the two companies plenty of time to negotiate.
According to Edison Research’s forecast, Sportingbet is going to report a yearly profit of 34.5 million British pounds which is three million British pounds less than the previous year.
Sportingbet has over two and a half million registered online players in two-hundred different countries. These players place over 1,000,000 wagers every single day.