Vegas Fat Cat Buys Online Sports Book
By sam
Enic, the sports and media group owned by Daniel Levy, has sold the online betting division of the group (ukbetting.com) to Eric Semel, the Vegas-based millionaire for 6 million pounds in a deal that will lead to the company being floated on the stock market.

Former casino director Semel is paying half of the 6 million up front with a combination of cash and shares of the ongoing business. The remaining 3 million pounds is performance related, and quotes on the ongoing performance of the company will be available on the Alternative Investment Market as ukbetting plc.

Earlier this year Enic said that plans to buy Victor Chandler or Sporting Index had been scrapped that it was pulling out of all its fledgling betting operations.

 
 
 
 
 
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