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32 Red Online Casino May Sell Sportsbook
Rumors have been circulating for over a week about the suspected sale and 32 Red
Casino confirms to the London Stock Exchange, that it is indeed in talks about
the sale of BetDirect.com, it's Sportsbook. They did not disclose, however, the
identity of the interested party.
Further rumored, and indicated by some movements of personnel, is that the
interested company may indeed be Boyle Sports, and Irish company. But no one is
confirming this rumor at this time.
32Red purchased BetDirect.com from Sportech approximately 18 months ago, for $25
million along with it's more than 46,000 layers. Gross revenues of $7 million
were reported for the past year, and they had more than 11,000 new players this
year. Notwithstanding, they have reported pre-tax losses of over $7 million due
to bad trading conditions.
At the time BetDirect was owned by Sportech, in 2005, the company had losses of
over $9 million and stated a turnover of $285 million.
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