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Sportingbet Trading on London Stock Exchange Suspended

Written by:

Aaron Goldstein

Published on:

Aug/16/2011

Sportingbet Trading on London Stock Exchange Suspended

One of the largest online sports betting firms in the world, Sportingbet, has suspended trading on the London Stock Exchange.

The move comes as the betting firm is in talks with Gaming VC about the possible purchase of its Greek language website.

This news has further prompted speculation that Sportingbet could be purchased by rival Ladbrokes.

Analyst James Hollins of Evolution Securities today reiterated his firm’s ‘buy’ stance on Sportingbet shares: “We think the sale of Sportingbet’s Turkish operations will pave the way for a Ladbrokes takeover of the group.”

Hollins added that: “We think the market is consistently failing to ascribe any value to Sportingbet’s Turkish operations and we would regard a sale as beneficial to its EV and subsequent valuation.”

- Aaron Goldstein, Gambling911.com

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