RNS today and subsequent rise starting now:

ukbetting PLC
5 October 2006

ukbetting plc

Statement re press speculation


ukbetting plc ('ukbetting' or the 'Company') has noted recent press speculation
regarding the possibility of an offer being made for the Company.

The board of ukbetting can confirm that it has received preliminary approaches
expressing interest in formulating an offer for the Company.

There can be no certainty that any formal approach to the Company and,
consequently, any offer will be forthcoming.

Nice to note that they have had more than one approach.

If it is 888, it probably won't do alot for their (888's) sp in the short term, but should strengthen it long term.
UKB should see a nice rise.
Am having a look at the others I mentioned above to see if they are also likely to be targets. Some are not yet profitable, so they are unlikely imo.

Sportingbet and Partygaming both recently pulled out of offers for other companies. I think those two, plus 888, are the likely bidders for UKB.

Would be nice to have a little bidding war!

As PRTY is going to have to return all the money to it's U.S. punters, I think they are going to be very strapped for cash.
888 or SBT more likely imo.

I like UKB ... was in here before but sold out but have bought back in today ....reckon it is a very good play

I like UKB also, but bought in 11/04 at 47p & sold in 09/05 at 59p, on the basis that other gaming companies were doing much better.
UKB has under-performed imo, but obviously now that they are a takeover target, the appeal has returned.

Talk in the papers is of a bid at 70p, a 15% premium to today's starting point.

i suspect if one bidder appears, there may well be others to force the price further ..... still, even just 9p up from the 61 at which i bought would not be such a hardship, but would be moderately surprised if that proved to be the final offer

RNS - 888 say its not them.

Shame.
Can PRTY raise the necessary cash? I suppose it makes sense for them to seek a quick revenue source.

PRTY are known to be continuing to look for acquisitions despite US regulations, but no confirmation that UKBetting is on their hitlist.

Regardless, we know that more than one group has made an approach - who the bidders may be is of little consequence to me. I'll take anyone's money!

PRTY no longer have the clout or credibility to make a serious t/o bid for another

This is from The Guardian:

There were also the first signs of much-anticipated consolidation in the online gaming industry yesterday as ukbetting said it had received a number of informal approaches to take over the company.

PartyGaming is known to be interested in acquisitions despite its shares falling 60% this week and said it cancelled its dividend to "take advantage of the many attractive opportunities in the sector that will emerge in the coming months".

PartyGaming, which has been forced to renegotiate its loan facility as a result of the US legislation, is also hoping to take over smaller rival Gamesys, which has all its customers in the UK.

PRTY may want to t/o another, but with its sp falling 60% and clearly in some financial difficulty, no target's shareholders would accept any offer unless ofr straight cash, which is obviously no option ..... further PRTY's own shareholders (and bankers) would almost certainly tell the board to get the company back on its feet before even trying any fancy fandango.

I am holding ukb as this one is one of the favourates. It looks like there could be a bit of a bidding war in the pipeline.

have a look at sunday times online regarding labour bids to put uk at the heart of online gambling. They are out for the increased tax revenues. Gordon Brown will love this one.

Janet - I hope this only represents a very small percentage of your holdings & that you are going to take profit at every opportunity???

most definately

Thanks for picking up that article, Janet.

Here's a link if anyone wants to read: Labour bids to put UK at heart of online gambling

More speculation that it is Partygaming: Reuters Article