Sportingbet Ends Takeover Talks
Sportingbet plc (SBT) announced today that it has ended takeover talks that it had been having following its acquisition of Sportsbook. Sportingbet had received a takeover offer of 30 pence per share to pay off its purchase of Sportsbook.
The Internet bookmaker had paid an initial £36 million for Sportsbook, which is a sports book that originates from the Caribbean. Sportingbet said that Sportsbook has outperformed expectations and that it has rescheduled its payments for the company.
"We are pleased that we have been able to agree practical arrangements with the Sportsbook and Australian vendors in line with the terms of the original agreements," said Nigel Payne, Sportingbet's chief executive. "The Sportsbook business has performed above all of our expectations since we acquired it in July 2001. With these arrangements in place, management will now be able to focus its attention on exploiting the significant growth opportunities for the business."
Sportingbet said it will release its year-end results by the end of July.
William Hill Stock Jumps After Record Interim Prediction
Last week shares of bookmaker William Hill. (WMH) shot upwards to a record high following the company's announcement that half-year financial results would be better than ever.
In other William Hill news, retiring chairman John Brown on July 8 sold half a million shares of the company for 287.25 pence per share. He also sold 1.5 million shares, at the same price, through trustees. Brown, who is planning to retire in December, has been with William Hill for 44 years and still has 1.3 million shares of the U.K. bookmaker.
The six-month results are due to be made public in September. The company said it expects pre-tax profit exceeding £100 million for the first six months to July. During the same period last year, William Hill reported pre-tax profit of £80.1 million.
MGM Mirage Conference Call July 17
MGM Mirage will release its second-quarter results on July 17 before the market opens. That same day, the company will hold a conference call to discuss the results at 11 a.m. EST. To participate in the conference call 1-888-276-0009 or 1-612-288-0318 for international callers. A replay of the call will be available until July 31 at 1-800-475-6701 or 1-320-365-3844 for international callers. The access code is 690579.
Scientific Games Conference Call July 24
Scientific Games Corp. (SGM) will release its second-quarter financial report on July 24 at noon and hold a conference call at 2 p.m. EST. To participate, call 800-901-5247 from the United States and 617-786-4501 internationally. The conference will also be Webcast at the company's Web site. A recording of the call will be available on the Web site as well as by telephone. To access the telephone recording, call 888-286-8010 or 617-801-6888 internationally. The access code is 92279126.
Report Released
Stanley Leisure plc (SLY) is reporting a turnover increase of 25 percent for the year ended April 27, 2003. Turnover for the year was £1,001 million, compared with turnover for 2002 of £743 million. The final dividend per share is up 22 percent to 5 pence. Turnover for the gaming division was up 20 percent to £180 million from £150 million last year.
Stanley Leisure (SLY) - Year-end Results