A nice profit to be made here on SBT. The bounce back has just started and if you are familiar with this one you will realise a 30% plus trading profit can be made. Dont forget the shorters have to buy back. Get in sharp to take advantage.
GF.

Sportingbet has risen strongly over the past few months on the back of the potential offer from sector peers William Hill and GVC.

On December 4th, the company recommended a revised proposal from the two partners that valued it at £485m. The groups will have until next week to make a firm offer though.

Sportingbet investors will be waiting to see whether the pick-up in trading in November, guided to in the first-quarter trading statement, has continued.

The first quarter was particularly tough with total revenue dropping from £59.9m to £38.8m year-on-year.

Speaking on November 30th, Chief Executive Andrew McIver said: “After challenging trading conditions during the first quarter, I am pleased to report that November has seen a return to normal trading levels, with a particularly strong Australian sports margin.”

Let us hope he is right.

60p would give me a nice profit, but that may be delayed a while.