Speculation amidst industry analysts concerning a possible Ladbrokes takeover of internet gaming firm 888 Holdings pushed share prices even further yesterday. The share price closed at a record high amidst rumors that Ladbrokes chief executive Chris Bell could be focusing his attention on the fortunes of 888 Holdings.

888 Holdings, a traditional poker and online casino company, operates the fourth largest poker site, Pacific Poker, along with the established and highly popular Casino-On-Net. The company enjoyed a successful floatation on the London Stock Exchange in September at 175 pence per share. More recently however, 888 Holdings shares have soared, closing at 2.25 pence yesterday. The company is now valued at over 700,000 pounds sterling and would be a sound investment for Ladbrokes.

Chris Bell has made no secret of the fact that Ladbrokes has strong ambitions to expand overseas. In particular, the bookmaker is eager to test its fortunes online and is expected to purchase online gambling interests once the 3.3 billion pound deal concerning its Hilton Hotel chain is finalized. Rumors of a takeover bid have been given further credence when one considers that 888 Holdings chief executive John Anderson is a former employee of Ladbrokes.

In other trading news, IG also saw its share price increase after rumors that the betting firm could be another possible candidate for a takeover bid from Ladbrokes or one of the bookmaker’s rivals. IG’s share price rose 6.25 pence to 180 pence per share at the close of trading. Poker giant PartyGaming shares were also up 1.5 pence for a total share price of 138 pence.

Back to January 2006 Online Gambling News
Back to latest Online Gambling News
Back to Online Gambling Archive