Sportingbet Receives Takeover Offer

Online gambling firm Sportingbet confirmed rumors today that it has received an offer from a rival to purchase the company. Speculation is that the buyer is Bwin, owner of the Ongame network.

While word in the industry says that Bwin’s bid for Sportingbet is around 65p per share, Sportingbet remains tight-lipped, save the following vague statement:

“The Board of Sportingbet has noted the recent press speculation and confirms that it has received a very preliminary approach which may or may not lead to an offer for the entire issued share capital of Sportingbet.”

Sportingbet shares soared on the news Wednesday, up over 15 percent to 59p.

Originally published 2:31 PM Wednesday, March 07, 2007