UKbetting Acquires Sports.com’s Betting Arm

UKbetting has acquired Sports.com’s betting arm for £670,000, taking its user base to more than 100,000.

The acquisition of SCG Enterprises, which is a wholly owned subsidiary of Sports.com, is part of UKbetting’s aggressive expansion strategy and is intended to compliment the group’s existing online brands. The company’s customers will now be able to access betting information from Sports.com’s sportinglife.com and bettingzone.com as well as from UKbetting.com and totalbet.com.

Commenting on the deal, chief executive of UKbetting, Eric Semel, said: “This acquisition fits neatly with our other digital sports betting operations and consolidates our position as a digital wagering operator. Since our listing in August 2001 we have completed a number of important deals, including our current offer for TEAMtalk.”

Last May UKbetting made an offer to acquire TEAMtalk Media, which owns national speech-based radio station TEAMtalk 252, for approximately £13.7m. The acquisition is still subject to shareholder approval, but TEAMtalk is urging its investors to accept the increased offer (see UKBetting To Acquire TEAMtalk For £13.7m).

Sports.com, which was once the world’s most visited sports domain, entered administration last month. It is understood that the site has been hard hit by the downturn in advertising revenue.

UKbetting: 020 7529 4857 www.ukbetting.co.uk

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