Another Listed Online Sportsbook Down Under?

12 May 1999
Newly listed on the Australian Stock Exchange, Consolidated Gaming Corp (CCG) has reportedly entered "exclusive discussions" with Internet group LibertyOne, with the intention of forming a sports betting joint venture, and has secured a short-term option to acquire Northern Territory-based bookmaker SportsBet Australia.

The option to buy SportsBet, which is said to be exercisable by July 1, is conditional on negotiations between CGC and LibertyOne being successfully concluded, and NT Government approval. The sale price is believed to be in the region of A$1 million (around U.S.$660,000).

SportsBet Australia is one of three sports betting groups with a license in the Northern Territory. It has attracted interest following Jupiter's acquisition of Centrebet last year and the proposed float of Mark Read's International All Sports.

IGN's Mr.Nambling is a gaming industry consultant and commentator with over 23 years industry experience, Glenn Barry has held senior management positions in Lottery and gaming operations around the world. His claims to fame include starting the first successful US Lotto in NewYork in 1978 and the NSW (Australia) in 1979.