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HEADLINE: Sportingbet in advanced
talks over 'substantial acquisition'
BODY:
Sportingbet PLC, the UK-based online
gambling group, said it is in advanced discussions with a
third party regarding the potential "substantial acquisition"
of an online
poker business.
In a statement it said financing of
the potential acquisition would require an equity fundraising
by the company.
"The board of Sportingbet believes
that the acquisition, if pursued, would be significantly earnings
enhancing. No definitive agreement has been reached between the
parties and there can be no certainty that agreement will be reached,"
it said.
The company said results for the 16
months to end July will be in line with the company's previous
guidance with operating profit before goodwill and exceptional
costs, of not less than 21.7 mln stg.
Current trading during the first few
weeks of the busy sports season is in line with the board's expectations,
it added.
The company added that in view of the
possible deal the results, which had been scheduled for Oct 19,
had been postponed.
rob.branch@afxnews.com
rhb/bam
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ISIN-NO: GB0009516252
Copyright 2004 AFX News Limited
AFX.COM
October 18, 2004 Monday
SECTION: COMPANY NEWS
LENGTH: 194 words
DATELINE: London
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