Online Casino Firm Considers Sportsbooks
According to a recent Reuters report, several online casinos such 888 Holdings and Sporting Bet will acquire European based sportsbooks in the coming year. 888 Holdings had previously announced it was looking to purchase a sports betting site to complement its online casino business, but declined to mention where the operation would be based. The largest European sportsbooks are Austria’s successful Bet and Win, and Sweden’s Unibet but it is not known if they have been approached by the online casino firm.
It is however likely that talks have already taken place due to both sports betting firms being fairly unique to Europe. Many other sports book and online casino companies are much smaller and may not have what it takes to attract the eyes of large investors. Some insiders report that Sporting Bet is said to have expressed interest in Unibet following its 2004 purchase of online casinos site Paradise Poker. However no news of a deal between the two companies has been forthcoming, and to date neither online casino firm -888 Holdings or Sporting Bet – has made any other acquisitions.
While the management of 888 Holdings has predicted that the online casinos industry will continue to consolidate, news of the company’s interest in European businesses has confirmed analyst’s opinions that the online casino operator is deliberately shunning future business with the U.S. This follows similar moves by Party Gaming and Bet On Sports.