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Online Gambling a Winner for SportingBet
Sportingbet shrugged off the collapse in confidence in the future of
internet gambling today, posting a fivefold increase in profits and a
50% rise in the amount of punting by its customers.
Chief executive Nigel Payne said: 'The whole thing has been
overblown. From where I am standing, volumes up 50% this year after
being in business for seven years is something any company in any
industry in any part of the world would want.
'Our poker rake is up 71% year-on-year and 22% quarter on quarter.
That is is not a slowdown.' Sportingbet, whose shares have fallen a
fifth in a month, has been caught up in a £5bn sell-off of internet
poker rooms and cyber casinos stocks, which has seen some of them halve
in value.
Major players PartyGaming and Empire Online admitted that they
believed the growth boom was at an end.
Read the
entire article at:
Thisismoney.co.uk
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