THINK WE ARE LOOKING AT A 1 BAGGER IF DICKS IS GIVEN AN APOLOGY TOMORO....

Backdoor Move to Ban Web Gambling Fizzles
19 September 2006
by Tony Batt

Las Vegas Gaming Wire

WASHINGTON -- Senate Majority Leader Bill Frist, R-Tenn., tried to attach an Internet gambling ban to a defense bill last week but was rebuffed by two powerful senators, congressional sources said Monday.

Despite the setback, advocates said GOP leaders will keep trying to add an online wagering prohibition to must-pass legislation until Congress adjourns this year.

Frist approached Sen. John Warner, R-Va., chairman of the Senate Armed Services Committee, and asked him to add an Internet gambling ban to a defense authorization bill, according to congressional staffers who requested anonymity.

But after checking with Sen. Carl Levin of Michigan, the ranking Democrat on the committee, Warner rejected the idea because an online wagering ban would not be relevant to defense legislation.

A source close to Frist confirmed the majority leader made the proposal to Warner, but declined to elaborate.

After hearing of Frist's proposal, Rep. Shelley Berkley, D-Nev., sent Warner a letter urging him to reject any amendment that would ban online betting.

"We must not use this important (defense) bill as a convenient vehicle for political pet issues such as a ban on Internet gaming," Berkley said.

Berkley opposed an Internet gambling ban that passed the House 317-93 in July.

Although the Department of Justice has said Internet gambling is illegal, the $12 billion industry continues to grow, with more than 2,300 Web sites.

Frist, who has been mentioned as a potential presidential candidate in 2008, criticized online wagering during an August visit to Iowa.

While in Iowa, Frist joined Rep. Jim Leach, R-Iowa, one of the two main sponsors of the ban that passed the House, in conducting an informal field hearing critical of Internet gambling.

On Sept. 5, the day Congress returned from its August recess, Frist made a speech on the Senate floor and listed an Internet gambling ban as one of his priorities as Congress rushes toward adjournment. Frist's second term expires this year, and he is not running for re-election.

Source: http://www.casinocitytimes.com/news/article.cfm?contentID=161151

Original proposed offer was SBT @244p = WGP@104p so the ratio is 0.426.

SBT price now 188p = WGP price of 188 * 0.426 = 80p.

We are too far below 80p :)

Strange thing is now happening do you think... all gaming sector are down apart SBT who is up nearly 5%. Maybe something is imminent for us here!

Lets hope so :)

There is something funny going on with SBT, seen some large trades going through which are paid higher than the buy price shown on the buy/sell on screen. What does that mean? Does it mean its on the verge to go alot higher beyond 200p very shortly?

Some Bargain condition sales & SETS order driven sales gone through late in the day, but as they are fairly large trades (300K shares) it is not surprising they have been delayed & gone through at different prices after the close of the market.
As they are sales, I can't see that they would be significant to an SBT sp move.

Looks like the WGP offer is still on for SBT.... :) in which case WGP has a long way to go upwards to the possible bid price (which is SBT price * 0.426)


Sportingbet boss says to step up U.S. push - FT
Thu Sep 21, 2006 12:23 AM BST

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LONDON (Reuters) - Online bookmaker Sportingbet (SBT.L: Quote, Profile, Research) will step up efforts to expand in the United States despite U.S. arrests of British gambling bosses, its new chief executive told the Financial Times.

Andrew McIver, who becomes chief executive in October, was quoted in the newspaper's Thursday edition saying Sportingbet would increase its push to find more U.S. customers and acquisitions.

"It's still the U.S. -- or what's the point? I still hold that view," McIver was quoted as saying in an interview.

Good news for gaming stocks :


http://www.pokerlistings.com/frist-fails-in-bid-to-attach-online-gambling-ban-to-military-bill-9065

2:40 PM, Wednesday, September 20, 2006 by

The National Right for Online Gaming (NROG) confirmed through their sources in Washington D.C. that Senator Bill Frist failed in his attempt to add the Internet Gambling Prohibition and Enforcement Act to a Department of Defense (DOD) authorization bill.

L2 strong now.

5 v 1 @58/63

Small tick up on the bid at close. Bit of a no brainer this one with SBT on the move up :)

anyone notice 2,500,000 buy on playtech late on......also been told spread bet company IG have their own market makers...no wonder we get fleeced

Frist fails in bid to attach online gambling ban to military bill
2:40 PM, Wednesday, September 20, 2006 by


The National Right for Online Gaming (NROG) confirmed through their sources in Washington D.C. that Senator Bill Frist failed in his attempt to add the Internet Gambling Prohibition and Enforcement Act to a Department of Defense (DOD) authorization bill.


The Senate Majority Leader was attempting to push the online gambling ban through the Senate by attaching it to a bill that authorizes military operations such as those in Iraq and Afghanistan. The move would have moved it through the Senate without having it taken to a floor vote.

The NROG has three sources they're working with to gather information about what's going on with the bill. Jason Bailey, NROG director of development, said one of their sources knew as early as Friday that Frist's effort had failed, but it was confirmed by all of their sources this week.

"We were hesitant to announce this 'victory' until all three of our sources confirmed it," Bailey said. "The actual DOD bill will be out of conference today, but we are confident in our sources that the gambling language has been removed."

Frist came up against opposition from both sides of the online gambling issue as well as from both the Senate and the House during his attempt. According to the NROG some people wanted all of H.R. 4411 added to the DOD bill, not just the payment process part, while others didn't want it at all.

"Most opposition came from those on the Armed Services Committee," Bailey said. "Senator Carl Levin (D-Mich.) and Senator John Warner (R-Va.) were the two most influential, although it's important to note there were several other key players that stopped him - this time."

Frist will likely continue to look for another bill to attach the online gambling ban to as the remaining days of the session wind down for the year and time runs out for the Senate to bring the bill to a vote.

"I believe Frist will try to keep it closer to the vest this time to avoid the outrage that he received when he went after the DOD bill. I don't think he expected it to raise as many eyebrows as it did," Frist said. "Expect him to take a much more quiet approach if he tries it again. Our sources tell us he has every intention of doing so."

The NROG, a nonprofit organization created to help fight an online gambling ban, is urging people to continue their efforts to make their voices heard on the online gambling issue by calling, writing, an e-mailing their representatives in Congress in order to prevent the bill from passing or being attached to other legislation.

Maetro, PapalPower has already mentioned it this morning.
But thanks anyway

Although we are still using the same calculation of SBT times 0.426 for a WGP takeover price, I think that is perhaps wrong.

I would see the offer being around the 100p level anyway, as was stated last time of being 104p.........

Therefore, the upside here remains very good for just a little bit of patience, expecially when the SBT CEO has said they are moving ahead with their expansion and acquisitons in the USA................eg......WGP :)

Someone has just bought 30k of shares @ 63.5p when bid is 59 and offer 63p. Must be looking good now!

Peter Shalson buys another 60K at 61p :) from the new rule 8.3 today :)

250K @ 62.25p have just gone through using 'b' trade type....What is B trade anyone?

Hi R88AVE,

A b trade is a broker to broker trade

Bluelady thanks....

Probably a good sign then gearing to sell at 100p each eh!

Hi R88AVE,

I hope so. I bought WGP and SBT on the day that SportingBet returned from suspension after the release of the chairman and SBT plummeted 40% on that day. Both have done me proud so far.