|Rivals Digital Media, the group behind the official website of Rugby Unionís Zurich Premiership and Football365.com now has a new parent Ė UKBetting.co.uk|
As a part of the UK online gaming operatorís aggressive expansion drive, the new deal would set back the operator by £2m, but add 1.5 million users to its current customer base of four million each month from Team talk (purchased for £14.4m in May 2002) and Sporting life websites. Since its public listing in 2001, UKBetting has been beefing up its sports content business alongside its core gambling arm.
Rivals which owns and operates a popular rugby magazine, F1 racer Jacques Villeneuveís official website and two football sites - rivals.net and football365.com. recently posted losses of £1.1m for the year to August 31 on turnover of £3.7m.
Richard Pembroke, CEO of Rivals believes with UKBetting, they would be a major player in the online sports market.
Rivals was formed by the merger of Rivals.net and 365 two years ago. The companyís new parent, the London-based UKBetting posted pre-tax losses of £2.9m for the six months to June 30 but its sports content division, which accounts for 50% of business, was profitable.