Sporting Bet to Stay with US Market26 Sep 2006 The battle between the online casino industry and the US federal and state law enforcement is heating up once again. It seems that Newly appointed CEO at Sporting Bet, Andrew McIver, will not be sent running for the hills because of a bit of intimidation. Although it may work on some online casinos which are planning to disconnect themselves altogether from the US, the new CEO plans to expand his company's activities in the United States.
Peter Dicks, ex-CEO of Sporting Bet, was arrested in London earlier this month, but his arrest and the numerous additional arrests appear as if they have little influence on him. The company indeed will have to insist on he US market to stay strong, as about two thirds of the profits at Sporting Bet come form US bettors. The company reported profit of GBP 20.7 million ($20.7 million) and revenue of GBP 276.1 million ($519.4 million) from the Americas in the nine months ended April 30.
Millions of American players bet an estimated $6 billion per year online, and according to Sporting Bet Spokesman George Hudson: "the US market simply cannot be ignored". They plan to push forward and their views have apparently been well received by the market – Sporting Bet shares rose 4.4 percent to 189.5 pence ($3.57) on the London Stock Exchange.
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