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Rate Sportingindex
- Thread starter TheGeneral+
- Start date
Hi General
Sporting Index is an A1 gambling site
Totally rock solid...Management have just bought it for a hefty sum..Also it is registered with the FSA...Which is the financial services authority over here in the UK.The FSA will not let them trade if there were financial problems
Sporting Index is a spread betting site...This means that you can win(or lose) a lot of money for each bet(this is one of the reasons why its FSA registered) adn take it from me,this type of gambling is not for the faint hearted,you need real balls of steel
HH
Sporting Index is an A1 gambling site
Totally rock solid...Management have just bought it for a hefty sum..Also it is registered with the FSA...Which is the financial services authority over here in the UK.The FSA will not let them trade if there were financial problems
Sporting Index is a spread betting site...This means that you can win(or lose) a lot of money for each bet(this is one of the reasons why its FSA registered) adn take it from me,this type of gambling is not for the faint hearted,you need real balls of steel
HH
Domain Name.......... sportingindex.com Creation Date........ 1996-02-20 Registration Date.... 2001-10-02 Expiry Date.......... 2004-02-21 Organisation Name.... Sporting Index Ltd Organisation Address. Gateway House Organisation Address. Milverton Street Organisation Address. Kennington Organisation Address. SE11 4AP Organisation Address. London Organisation Address. GREAT BRITAIN (UK)Admin Name........... Matthew Ephgrave Admin Address........ Sporting Index Ltd Admin Address........ Gateway House, Milverton Street Admin Address........ Kennington Admin Address........ SE11 4AP Admin Address........ London Admin Address........ GREAT BRITAIN (UK) Admin Email.......... mephgrave@sportingindex.com Admin Phone.......... +44(0)207 8404050 Admin Fax............ +44(0)207 7350364Tech Name............ IT Action Hostmaster Tech Address......... IT Action Limited Tech Address......... 201-203 City Road Tech Address......... London Tech Address......... . Tech Address......... . Tech Address......... GREAT BRITAIN (UK) Tech Email........... hostmaster@it-action.net Tech Phone........... +44 (0)20 7521 3881 Tech Fax............. +44 (0)20 7253 7312 Name Server.......... ds01.sportingindex.com Name Server.......... ds01.itaction.net Name Server.......... ds02.sportingindex.com Name Server.......... ds03.itaction.net
Old#7
U R correct about the sportingbet part
Press release - 26th June 2002
SPORTINGBET PLC ("Sportingbet") ANNOUNCES THE ACQUISITION OF SPORTING ODDS LIMITED ("Sporting Odds")
Sportingbet Plc, the leading global internet sports betting group, is pleased to announce today that it has acquired (subject only to the admission of the consideration shares to listing) the entire share capital of Sporting Odds Limited for a consideration of ?4.5m. Sporting Odds is the fixed odds business of spread betting company Sporting Index.
The consideration will be satisfied by the issue of ?2.0m of Sportingbet 0.1p ordinary shares to the vendor, Sporting Index Holdings plc, together with a loan note for ?2.5m. The ordinary shares, priced at 101pence being the average market price for the 30 days prior to acquisition are subject to a lock-up agreement until October 2003. The loan note, of which ?2m is subject to a bank guarantee, pays a coupon of LIBOR plus 1 per cent and is repayable in full on 31 October 2003. In addition to the above, Sportingbet has acquired the tax losses of Sporting Odds of ?6million for a maximum deferred consideration of up to ?540,000, paid on an as used basis and Sporting Index will provide management services for up to two months following completion for ?250,000 (exclusive).
Sporting Odds is an exclusively Internet based sports betting company, focused almost wholly on the U.K. betting market. Sporting Odds has been trading since June 2000 and has grown rapidly to a turnover in excess of ?38m for the year ending 31 May 2002. (Net liabilities at the last audited balance sheet of 31 May 2001 were ?8.5m with a loss for the year of ?7.1m) Sporting Odds presently has over 65,000 registered customers of whom approximately 21% were active in the month of May 2002. Although Sporting Odds has historically been loss making, it has recently become profitable at an EBITDA level. Moreover, significant cost savings will be made by Sportingbet by integrating the two businesses over the next three months. Post integration, Sportingbet will have in excess of 120,000 customers from Europe, effectively double that of today, but the business will be operating at little incremental cost to that of Sportingbet today.
Under the terms of the acquisition, Sporting Index will continue to provide a click through on its website to the fixed odds Sporting Odds business and Sportingbet will provide a click through on its sites to the sports spread betting business of Sporting Index. These activities are subject to a mutual revenue share agreement.
Commenting on the acquisition, Nigel Payne, Chief Executive of Sportingbet Plc said, "We are delighted to be acquiring such a successful brand as Sporting Odds. Over the past year Sportingbet has grown its European business significantly and this acquisition, which will be run on shore in the United Kingdom, materially increases our critical mass into the region and our aim of making Europe a substantial profit making part of the group along with our existing profitable businesses into the Americas, Asia and Australia."
Richard Glynn, Chief Executive of Sporting Index said: "Sporting Index is the acknowledged market leader in sports spread betting in the UK and this transaction marks the beginning of an exciting phase of international growth. Sportingbet will provide a unique world-wide distribution platform for our ever-increasing range of spread betting products to an ever-expanding international audience. By taking part consideration in stock, the Sporting Index Group can also retain an interest in the rapidly expanding fixed odds sports betting market."
Media Enquiries: Leanne Tritton
email: media@sportingbet.com
Tel: +44 (0)207 247 8334
About Sportingbet plc
Sportingbet plc operates a global online and telephone sports betting business, serving over 558,000. customers in some 150 countries. The group, which offers betting on a wide assortment of international sports and accepts bets in 23 separate currencies, conducts operations via betting licences in the Channel Islands, Costa Rica and Vanuatu. In January 2002, the group was granted an off-shore Australian telephone and internet gaming licence by the government of the Northern Territories.
from
http://www.sportingbet.com/c/info/media/press08.html
U R correct about the sportingbet part
Press release - 26th June 2002
SPORTINGBET PLC ("Sportingbet") ANNOUNCES THE ACQUISITION OF SPORTING ODDS LIMITED ("Sporting Odds")
Sportingbet Plc, the leading global internet sports betting group, is pleased to announce today that it has acquired (subject only to the admission of the consideration shares to listing) the entire share capital of Sporting Odds Limited for a consideration of ?4.5m. Sporting Odds is the fixed odds business of spread betting company Sporting Index.
The consideration will be satisfied by the issue of ?2.0m of Sportingbet 0.1p ordinary shares to the vendor, Sporting Index Holdings plc, together with a loan note for ?2.5m. The ordinary shares, priced at 101pence being the average market price for the 30 days prior to acquisition are subject to a lock-up agreement until October 2003. The loan note, of which ?2m is subject to a bank guarantee, pays a coupon of LIBOR plus 1 per cent and is repayable in full on 31 October 2003. In addition to the above, Sportingbet has acquired the tax losses of Sporting Odds of ?6million for a maximum deferred consideration of up to ?540,000, paid on an as used basis and Sporting Index will provide management services for up to two months following completion for ?250,000 (exclusive).
Sporting Odds is an exclusively Internet based sports betting company, focused almost wholly on the U.K. betting market. Sporting Odds has been trading since June 2000 and has grown rapidly to a turnover in excess of ?38m for the year ending 31 May 2002. (Net liabilities at the last audited balance sheet of 31 May 2001 were ?8.5m with a loss for the year of ?7.1m) Sporting Odds presently has over 65,000 registered customers of whom approximately 21% were active in the month of May 2002. Although Sporting Odds has historically been loss making, it has recently become profitable at an EBITDA level. Moreover, significant cost savings will be made by Sportingbet by integrating the two businesses over the next three months. Post integration, Sportingbet will have in excess of 120,000 customers from Europe, effectively double that of today, but the business will be operating at little incremental cost to that of Sportingbet today.
Under the terms of the acquisition, Sporting Index will continue to provide a click through on its website to the fixed odds Sporting Odds business and Sportingbet will provide a click through on its sites to the sports spread betting business of Sporting Index. These activities are subject to a mutual revenue share agreement.
Commenting on the acquisition, Nigel Payne, Chief Executive of Sportingbet Plc said, "We are delighted to be acquiring such a successful brand as Sporting Odds. Over the past year Sportingbet has grown its European business significantly and this acquisition, which will be run on shore in the United Kingdom, materially increases our critical mass into the region and our aim of making Europe a substantial profit making part of the group along with our existing profitable businesses into the Americas, Asia and Australia."
Richard Glynn, Chief Executive of Sporting Index said: "Sporting Index is the acknowledged market leader in sports spread betting in the UK and this transaction marks the beginning of an exciting phase of international growth. Sportingbet will provide a unique world-wide distribution platform for our ever-increasing range of spread betting products to an ever-expanding international audience. By taking part consideration in stock, the Sporting Index Group can also retain an interest in the rapidly expanding fixed odds sports betting market."
Media Enquiries: Leanne Tritton
email: media@sportingbet.com
Tel: +44 (0)207 247 8334
About Sportingbet plc
Sportingbet plc operates a global online and telephone sports betting business, serving over 558,000. customers in some 150 countries. The group, which offers betting on a wide assortment of international sports and accepts bets in 23 separate currencies, conducts operations via betting licences in the Channel Islands, Costa Rica and Vanuatu. In January 2002, the group was granted an off-shore Australian telephone and internet gaming licence by the government of the Northern Territories.
from
http://www.sportingbet.com/c/info/media/press08.html
