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Bwin In Talks To Buy SportingBet

Business, 2007-03-07, by TwoGun

Bwin, valued at $1.25 billion, is one of the largest online gambling companies. They previously acquired Ongame, the company that owns Poker Room and is in charge of that poker network. Bwin is most known for their sportsbook, bwin.com.

Bwin is in talks to buy Sportingbet, which is primarily a sportsbook as well, though it also owns Paradise Poker. Sportingbet's market capitalization is currently at around $500 million.

Both companies are publicly traded and do not accept any real-money US players due to the Unlawful Internet Gambling Enforcement Act. Shares of Sportingbet rose 15% to 59p on news of the potential takeover. Sportingbet execs have stated that they will unlikely accept any takeover bet that values the company at less than 85p a share.

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