Shares jump by nearly 9% as a direct result of the recent WTO ruling in favor of Antigua...
Wednesday 31st March 2004
Sportingbet saw its shares jump by nearly nine percent as a direct result the recent World Trade Organisation ruling in favor of Antigua, The Times online has reported.
While the actual effect the decision will have on the online betting industry in real, practical terms is not yet known, this certainly seems to show (at least amongst investors) an optimism towards, and enthusiasm for a liberalisation of the American market.
According to the Times, Sportingbet will be perhaps the greatest beneficiary of any liberalisation: “At its third-quarter results in January, the company disclosed that it drew two thirds of its £360 million turnover from the US, which it handles through its offshore subsidiary in Costa Rica. Sportingbet, which is to file preliminaries on April 29, jumped 61D4p to 771D2p. The FTSE 250 closed up 69.1 points at 6,217.9.”