Sportingbet, a company that just keeps rising and rising
With rumors circulating about a possible merger with Unibet, Sportingbet share prizes hit sky high, enhancing the companies reputation on the online gambling market.
The company first came into the news in September, after they settel a legal problem with the U.S. government by paying a fine of $ 33 million to pay, in order to make sure that they were not prosecuted for the fact that they offered their online gambling serviced on the American market between 1998 and 2006. After the company paid the $33 million, their share price increased with 12%.
Sportingbet was a very attractive company to take over – it was known as a strong brand, with a clean slate and no financial problems, as they had little trouble with coughing up such an enormous amount of money. The rumors about mergers confirmed that the company was doing very well, which is not only good news for the shareholders, but is also a strong indication of the popularity of the brand.
Sportingbet meets all expectations
Sportingbet has more than 2,5 million registered customers in more then 200 countries all over the world. More then a million bets are placed every day. Sportingbet meets all expectations one could have of one of the world biggest online gambling companies. The company is also the proud owner of Paradise Poker, one of the world's most famous online poker names.
Sportingbet to conquer Russian market
The latest news is that Sportingbet is making plans to start exploring new markets such as the Russian online gaming market. According to StockMarketWire.com, Sportingbet is creating and launching a new online sports betting site specifically focused on the Russian market. Sportingbet estimates that the Russian sports betting market generates a revenue of about $ 1.8 billion per year.
Possible merger with Unibet
Even bigger news is the possible merger between Sportingbet and Unibet, and it is said that the two leading European online gaming brands have had meetings on the subject already. If Sportingbet and Unibet
are to fuse, the two businesses are worth more then 600 million pounds.