UKbetting buys Ritz Club
Closed down Wednesday, bought Friday
Posted in Financial News, 29th September 2006 14:21 GMT
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Online gambling website www.theritzclublondon.com - part of the Barclay brothers' Ritz Hotel empire - has been bought by ukbetting plc.
The Ritz Club announced on Wednesday it was withdrawing from the business because of fears of continued action by US regulators. Authorities in the state of Louisiana this week confirmed they had drawn up warrants for several gaming executives.
According to a statement sent to the London Stock Exchange, ukbetting is paying an undisclosed amount for the site. It will have no connection with either the Ritz Club or Ritz Hotel.
The site should be available already and customers will "continue to enjoy the same principles of quality customer service in a luxurious and stylish environment".
Gaming company share prices have been hit hard by the recent arrest of several executives by US and French police. ®
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