Massive Online Casino Takeover
The possible takeover between online casino group 888 and UK based bookmaker Ladbrokes, was announced today. Ladbrokes has made an offer worth over 350 million Pounds to take over 888. Shares of the internet casino company have jumped an impressive 8 percent in the London Stock Exchange following the announcement.
The multi-million pound takeover deal and the rise in stock value of the online casino company have come after the internet gambling industry was in a relative slowdown due to the new laws passed in the United States that effectively ban Internet betting starting later in 2007. A series of huge consolidations were expected by experts and indeed, consolidations have taken place in the sector. The deal, however, if it takes effect, will by far be the largest.
Posted: November 7th, 2006 under online casino.
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