Ladbrokes pulls out of 888 deal
888.com and Ladbrokes have announced there will be no deal on the planed merger between the two companies, having decided not to go ahead with a potential deal which looked likely when talks began back in October 2006.
One of the main rasons cited by Ladbrokes was the introduction of the Unlawful Internet Gambling Enforcement Act, which has criminalised companies catering for the online gambling market in the US, witched the loss of 888 major customer base.
888 shares dropped 5.7 percent in response to the Ladbrokes announcement, also in reponce to this news, Morgan Stanley sold there £4.7 million worth of 888.com shares. Ladbrokes shares were trading up following the public statement.
Despite 888.com set-back, they will continue to follow their plans for expansion into the European market.
Click here for 888.com
Click here for Casinos
One of the main rasons cited by Ladbrokes was the introduction of the Unlawful Internet Gambling Enforcement Act, which has criminalised companies catering for the online gambling market in the US, witched the loss of 888 major customer base.
888 shares dropped 5.7 percent in response to the Ladbrokes announcement, also in reponce to this news, Morgan Stanley sold there £4.7 million worth of 888.com shares. Ladbrokes shares were trading up following the public statement.
Despite 888.com set-back, they will continue to follow their plans for expansion into the European market.
Click here for 888.com
Click here for Casinos
posted by Glenn at Wednesday, April 25, 2007
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