Sportingbet OK with higher forecasts

 

February 22

Today, Sportingbet, the British online gambling company published its first-half operating profit, a nearly doubled amount from its previous profit publishing. The online gambling company also let it be known that it fully expects to meet the currently raised forecasts to create a new record high for its shares.

The online gambling companies shares were up 5.6%. The shares outshined its division by 200% in the last year.,

Sportingbet announced its overall final gains rose 86% to 26.0 million pounds in a six month period ending at the end of January 2005.

A company executive for the online gambling company told reporters some analysts had raised their forecasts and that he was fully confident that the company would meet those increases.

Back on Oct. 28 2004, Sportingbet arranged to purchase Paradise Poker for an opening price of $298 million.

Executives tout the easy transition and integration of the sites as a major reason for the outstanding growth.