Online Casino Transfer: News - Rumors on Centrebet Sale Abound

03/20/2010		Online Casino Style: News Rumors on Centrebet Sale Abound
Home History Games News Dictionary		The potential of a major change is rippling rumors through the online gambling industry this week as more news portals spread the news that Centrebet might be for sale. More so, there seems to be a development of potential buyers, most of which in the UK. It would be a huge opportunity for online gambling companies in Europe to easily develop their relationships with the Australian market, buying an established and trusted brand with a loyal followship of players. For now, however pervasive the rumors might be, the possibility of a sale is still that – a possibility. But the timing couldn’t be more ironic as potential changes to the online gambling laws in Australia could change the game and negotiations in a major way. According to a recent report by the Australian News, the possibility of a sale has been enough to have a very positive effect on the company’s shares, as its price soared 16 percent as investors contemplated the future successes in line for the firm. As a result, its market value has jumped up to A$143 million. According to most reports, three different companies are seriously considering the purchase. For now, 60 percent of ownership is held by the family members of chief executive officer Con Kafataris. Ladbrokes, Sportingbet, and William Hill are the likely suitors, according to internet gambling experts, though the negotiations are all behind closed doors, with a thick bank of confidentiality shadowing whatever agreements could be being considered. Centrebet has only confirmed that it has received “a number of confidential, indicative, nonbinding, and conditional proposals,” in regards to acquisition of the Australian online gambling group, though they declined to answer any more detailed questions presented. Though its doubtful that the Irish internet gambling group Paddy Power would have the resources needed to make such a large purchase, it cannot be ignored that they purchased a controlling stake for Sportsbet in the middle of last year, a clear indicator of their interest in developing their hold of the market down under.

03/20/2010

Online Casino Style: News
Rumors on Centrebet Sale Abound

The potential of a major change is rippling rumors through the online gambling industry this week as more news portals spread the news that Centrebet might be for sale. More so, there seems to be a development of potential buyers, most of which in the UK. It would be a huge opportunity for online gambling companies in Europe to easily develop their relationships with the Australian market, buying an established and trusted brand with a loyal followship of players.

For now, however pervasive the rumors might be, the possibility of a sale is still that – a possibility. But the timing couldn’t be more ironic as potential changes to the online gambling laws in Australia could change the game and negotiations in a major way. According to a recent report by the Australian News, the possibility of a sale has been enough to have a very positive effect on the company’s shares, as its price soared 16 percent as investors contemplated the future successes in line for the firm. As a result, its market value has jumped up to A$143 million.

According to most reports, three different companies are seriously considering the purchase. For now, 60 percent of ownership is held by the family members of chief executive officer Con Kafataris. Ladbrokes, Sportingbet, and William Hill are the likely suitors, according to internet gambling experts, though the negotiations are all behind closed doors, with a thick bank of confidentiality shadowing whatever agreements could be being considered.

Centrebet has only confirmed that it has received “a number of confidential, indicative, nonbinding, and conditional proposals,” in regards to acquisition of the Australian online gambling group, though they declined to answer any more detailed questions presented. Though its doubtful that the Irish internet gambling group Paddy Power would have the resources needed to make such a large purchase, it cannot be ignored that they purchased a controlling stake for Sportsbet in the middle of last year, a clear indicator of their interest in developing their hold of the market down under.