Anyone holding these? Evil K drove the price right down and now they seem to be recovering---are they worth considering now they seem to have sorted out their finances?

sunday times online today announces that labour bids to put uk at teh heart of online gambling. Sportingbet have received takeover approaches for their us business. The firm have been contacted by several people wanting to buy its us operations, although a sales is not the only options been considers. Have a look there is more. Sorry I do not know how to download this article on to this thread. Good luck to all who still hold. Peter just out of interest did you buy yours back at a much lower price? Cynic I will be in touch later about the cfd details.

pity they didn't buy them before all the fuss...anyone would have thought they did it on purpose to get the prices down...surely christian loving yanks wouldn't be so devious?

Here is the Times artical, I'm looking forward to Monday!

The Sunday Times
October 08, 2006

Labour bids to put UK at heart of online gambling
Dipesh Gadher and Matthew Goodman

PLANS to turn Britain into a world leader in internet gambling have been drawn up by ministers, according to internal Whitehall documents.
In stark contrast to America, where online gambling has in effect been outlawed, ministers want to attract offshore companies to Britain.

New legislation will lift the current ban on online gaming businesses in Britain from next year. But documents obtained under the Freedom of Information Act reveal that a government charm offensive is well under way. They show that the Department for Culture, Media and Sport (DCMS), has lobbied the Treasury on behalf of online betting and gaming firms to introduce a favourable tax regime.

Over the past two years, ministers and officials at the department have met representatives of the internet gambling industry on 26 occasions.

In July, Richard Caborn, the minister in charge of gambling, travelled at taxpayers expense to Gibraltar, the headquarters of Party Gaming and 888.com. At the end of the month, Tessa Jowell, the culture secretary, will host an international summit of politicians at Ascot racecourse to discuss regulatory standards.

Officials from the United Nations, the European Commission and the major credit card companies have been invited.

The governments desire to take the lead in the online gambling sector is spelt out in a briefing note written for Caborn before a meeting in July last year with Mark Davies, managing director of Betfair, the online betting exchange.

The note says: It is government-wide policy, and that includes HMT (Her Majestys Treasury), that Britain should become a world leader in the field of online gambling, in order to provide our citizens with the opportunity to gambling (sic) in a safe, well-regulated environment.

The meeting took place as the Treasury was deciding a new tax regime for online betting exchanges, which are already allowed to operate onshore. Although bookmakers, such as Ladbrokes and William Hill, were arguing that online companies should pay higher rates of tax, Davies told Caborn such a move would kill Betfair.

Six months later, the chancellor announced a 15% tax on gross profits for online operators the same regime that applies to traditional bookmakers. The move apparently delighted Betfair, according to another DCMS document.

Documents released by the Treasury under the Freedom of Information Act showed officials are considering ways to attract betting firms.

Briefing notes for one speech said: The industry needs clarity on taxation issues, as this is a crucial factor shaping investment and location decisions, especially for remote operators.

Luring online poker and casino firms into Britain may prove difficult. The industry has told Caborn that anything more than a 2% tax on gross profits would be unacceptable. Some companies have asked the government to consider a system of secondary licensing, which would give them the British regulatory stamp of approval while retaining the tax benefits of remaining offshore.

Sportingbet, whose shares fell 64% last Monday in the wake of the new American law, has received takeover approaches for its US business.
The company has commissioned legal opinions to determine the impact of the American legislation.

The firm has been contacted by several people wanting to buy its US operations, although a sale is not the only option being considered.

Source: http://www.timesonline.co.uk/article/0,,2095-2393518.html

http://news.bbc.co.uk/1/hi/technology/5412980.stm

Who is really in charge of the internet?

US laws to clamp down on online gaming show that the internet can be controlled, argues Bill Thompson.
The myth of the borderless internet, never very credible to those who had any real understanding of the interplay between politics and technology that underpins the network, took another hit last week when the US Congress voted to ban bank and credit card payments to gambling firms.

If President Bush signs the Unlawful Internet Gambling Enforcement Act into law, as he is expected to do, then within months US credit card companies and banks will be forced to check for and refuse payment for most forms of online gambling.

This has already had a catastrophic effect on UK-based companies like Sportingbet and PartyGaming, who face the loss of a major part of their market. Share prices are tumbling, directors are worried and revenue projections are being hastily scaled down.

Whether or not you approve of gambling or online gambling, and whether or not you think that this move smacks of hypocrisy or is a blatant attempt to protect the US gaming industry from overseas competition, the law provides a good example of how governments can control the internet.

Instead of trying to manage the technology by banning poker-playing software or insisting that service providers block online gaming sites - neither of which would be effective anyway - the law puts pressure on the banks who actually move the money around.

what do you think the market reaction is going to be on this matter tomorrow.

news just come out 2.45 title partygaming but this news will concern all gaming companies.

SBT BID AROUND 200P IMHO

maestro where have you got this bit of news from?

Janet:

Probably dreamt it after partaking of "certain substances" . . . :)

janet..value of business without US

The market is currently valuing SBT at a spread of 69.75/70.50 without the U.S. business. I fail to see why a bid would be at 200.

so do I , but who knows. maestro, I am just wondering how you have valued sbt at 2.00.

I think he used a pin.

In since last week @ 63p and would be happy to see 1 by the 17th.

news in the daily telegraph today sbt looking for loopholes in the usa.

They won't find any. The US government is pretty determined to block these transactions. A lack of bank and credit card transfers will stop US transactions. If any looholes are found then the US will just close them.

Frist the anti-christ?
http://www.thetruthseeker.co.uk/article.asp?ID=511

i dont believe its illegal for US citizerns to hold overseas bank accounts.

How handy would that be if an offshore bank was to buy an online casino company or vice versa!!!


[Offensive language removed by MoneyAM Moderator]

Sportingbet says Credit Suisse sells stake
AFX


LONDON (AFX) - Sportingbet PLC said Credit Suisse no longer has a notifiable interest in the company's issued share capital.

On Oct 12, Credit Suisse, through Credit Suisse Securities (Europe) Ltd and Credit Suisse International, said it held 13.3 mln Sportingbet shares, representing 3.15 pct of capital.

newsdesk@afxnews.com

somebody at CS will get their knuckles rapped or worse

Pommy - 11 Oct 2006 17:36 - 264 of 266
i dont believe its illegal for US citizerns to hold overseas bank accounts.

How handy would that be if an offshore bank was to buy an online casino company or vice versa!!!


[Offensive language removed by MoneyAM Moderator]

did i mention the words 'online gaming'?
does George Moron Bush work for ADVFN?
Lets see!!


MUSLIM MUSLIM MUSLIM!!!