Feeds

Sports Internet gambles on Surrey Group

Deal values bookmaker at £19.7m

  • alert
  • submit to reddit

New hybrid storage solutions

So what do you do when you are a Internet "sportal", when you have a stock market listing but next to no revenues? This one's a no brainer: you buy a bookmaker. Latest merger on the block is Sports Internet, which is buying Surrey Group plc for £19.7 million in shares. For the faint-hearted Surrey shareholders there is a cash and share alternative, that values the company at £15.6 million (a piffling four per cent higher than yesterday's closing mid-market quotation price). Sports Internet is to integrate Surrey into its Planetfootball and Opta football statistics business. Gambling-wise, racing is the big thing in the UK, but the Government's nine per cent tax on transactions is driving phone-based bookies overseas to seek more congenial locations (Surrey's telephone-based gambling business is conveniently situated in the tax-free shelter of Alderney). Government intransigence will drive the growth of UK gambling over the Internet and over the phone. The bigger game is overseas -- South East Asia for generates huge soccer gambling revenues -- much of which hangs on British soccer results. A safe Internet haven would bypass all the problems associated with endemic gambling corruption in that region. So Sports Internet has everything to play for. ® Daily Net finance news from The Register

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.