Shares of the online gambling company 888
Holdings drop
The shares of the popular
online gambling company 888 Holdings PLC (LSE: 888) dropped
today 5.7% after the company announced that it had ended the
buy-out negotiations with Ladbrokes.
A statement to the London
Stock Exchange notified investors that both parties had agreed
to put an end to the negotiations, which started last October,
but were complicated by the passing of the anti online gambling
law in Washington late last year. Following the announcement the
shares of 888 were trading at 115.5 pence, or 5.7% lower than
the Monday LSE opening price.
888 Holdings PLC were one
of the companies in a better position after the US Internet
gambling bill, as it already had a strong non-American customer
base, but fear of litigations still remain after the former CEO
of the company was called for questioning by the French
authorities this February.
04/23/2007
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