(Click Here for the Latest Online Poker News Stories)
Copyright 2004 Associated Newspapers
Ltd.
The Evening Standard (London)
October 18, 2004
HEADLINE: Sportingbet chases funds for online
poker buy
BODY:
PUNTERS today showed they cannot get enough
of the online poker
craze whether they are gamblers or stock market investors.
Internet gaming stock Sportingbet announced
the postponement of its latest results and a substantial fundraising
exercise, possibly via rights issue, yet shares in the group jumped
another 3p to 103p.
Sportingbet said it is in advanced talks to
acquire a new online poker business to supersede its current operation.
Online poker has become
one of the fastest-growing segments of the gaming market and is
understood Sportingbet wants buy a business with a large enough
user base to enable its existing customers to get round a virtual
internet poker table at will.
Postponement of the financial results, due
out tomorrow, suggests the deal is close. About £36 million
debt at it last update, Sportingbet said it will be raising equity
to finance the transaction.
Three-pronged tilt at Chelsfield gets under
way
SHOPPING centres giant Westfield, Australian
developer Multiplex Group and the Reuben brothers have launched
their £585 million bid for Duelguide, owner of property
company Chelsfield. The offer is conditional on 75% acceptances
and the deal is expected to be completed next month. When Chelsfield's
debt taken into account, the bid will be worth £2.1 billion.
Cairn wins green light for Indian discoveries
SOARAWAY oil explorer Cairn Energy today passed
another major milestone after winning formal approval from the
Indian government to develop its huge discoveries in the country.
The development area in Rajasthan, which contains the billion-barrel
Mangala field, is now in Cairn's hands at least until 2020.
FLOAT FILE
PD Ports is hoping life will get a little
brighter on the Stock Exchange's main market. It floated on the
junior AIM exchange in July via an "accelerated IPO"
(initial public offering) but will upgrade to the main market
by the end of the year in the hope a higher profile will reverse
its 15% share price drop.
PD operates ports on the River Tees.
(Click Here for the Latest Online Poker News Stories)
|