The future of Internet gambling may be clouded in the U.S., but it apparently is crystal clear to English National Investment Co., which announced it plans to acquire the entire Victor Chandler International Group bookmaking operation, now based in Gibraltar, for between 100 and 112 million U.S. dollars.
Chandler will retain as much as 50% of the company, but will receive $50 million or so if the sale goes through. Chandler's partner, major thoroughbred owner and former bookmaker Michael Tabor, also will hold a sizable stake, and English National's managing director, Daniel Levy, says, "It's not a case of them selling out but the start of something bigger."