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Online Casino Sold

An announcement from Fred and Peter Done has taken some in the online casino gamblig industry by surprise. These two brothers, and owners of the Betfred brand, have announced that Betfred’s internet based gambling product has been sold to an undisclosed new company. The Done brothers launched the brand several years ago and have managed to obtain a decent share of the market – but even with that said, according to a UK publication, Crane’s Manchester Business, that division of the company never performed up to expectations. BetFred.com operates as an online casino and internet gambling site – a wide variety of options and games.

Gamblers with accounts at Betfred should not be worried though, according to the few details that were released about the new deal the company’s online casinos and gambling operations will still remain on the same domain, accounts are still valid, and the brand will remain largely untouched for the foreseeable future. Interestingly, there is no indication about which company has bought Betfred’s online casino gaming division, Betfred NV. The Financial Director at Betfred, Barry Nightingale, noted that because of the terms of the sale agreement Betfred is unable to announce the new company at this time.

One important factor about the deal is that Betfred’s online casino gambling division has been sold but the web-sports division remains under the ownership of the Done brothers. Additionally, the sale reportedly netted the Done brothers a cool 27.2 million in the process – not bad for a gambling brand that is solid but still struggling a bit to find a solid segment of the internet casino market.