|
|
 March 7 - Things seem to be looking up for the UK based betting company, Sportingbet. The company is cautiously optimistic that the current global economic recession will not affect its revenues too much and it also hopes to settle with the US Department of Justice once and for all in a case that is hanging like an axe over its neck.
Sportingbet is optimistic that an agreement will be reached with the DOJ over charges that the company offered its services to the US public before the Unlawful Internet Gambling Enforcement Act was passed in 2006.
"We will hopefully reach an agreement in the current calendar year; it's not going to be resolved in weeks," said the Chief Executive Officer for Sportingbet, Andy McIver. "The talks have been very amicable and very positive but incredibly slow.
Sportingbet is now looking towards the next year to increase its revenues through a number of channels, both in Europe and in South Africa.
The company obtained an online betting license for South Africa in December, giving it an excellent advantage in the country and placing it firmly at the forefront of those companies hoping to grab a piece of the pie of the incredible revenues that that the 2010 FIFA World Cup will generate.
The soccer extravaganza traditionally attracts millions of people who bet on their favorite teams throughout the tournament, and then on the final games.
McIver said that Sportingbet was the first major player to enter the sportsbetting market in South Africa ahead of the tournament.
Sportingbet's earnings are also being pushed up by increased activity in the European market, leading the company to believe that it should have no problem meeting analysts' predictions for full year underlying pretax profit.
Read our Sportingbet review.
Related Gambling Articles:
- Rugby Super 14 - 2009 Season - Round 5 Betting Preview
- SA Poker Champ Turns Golf Pro
- Gareth Kalil Wins All Africa Poker Tournament
- Highlanders Make A Mark on the Super 14 Rugby Season
- Zim Frustrations for Tiger Woods Golf Course
- Rugby Super 14 - 2009 Season - Round 4 Betting Preview
- Super 14 Betting Recap Sees Hurricanes On Top
- Sun International Plans Expansions Despite Recession
|
|
|
