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From Ashes to Success

The Sportingbet online casino gambling group was once one of the most active US sportsbook in operation. The company had a huge base of US gamblers and an incredibly strong reputation in the marketplace for high quality interface, professionalism, and excellence. The business was booming and Sportingbet performed quite well on the London Stock Exchange because of the rich US betting market. But then the UIGEA came into effect in the US market and financial transactions with foreign online casinos were banned by the US government. This action sent many of the primarily US facing gambling sites into a huge downward spiral, Sportingbet among them.

Sportingbet’s stock value absolutely tanked at the London Stock Exchange and, in tatters, the online casino sportsbetting site began to rebuild its business with a focus on the legal European market. Over the past several years Sportingbet has succeeded in rebuilding a base of loyal gamblers registered for the site and has a robust business in operation throughout Europe and other parts of the world. According to the latest results, Sportingbet is really back on its feet and has found itself on the Official List at the London Stock Exchange. Considering the devastation of the US’ ban on online casinos caused for this company, it is truly remarkable that Sportingbet has been able to recover and rebuild so rapidly.

The reestablishment on the London Main is one further indication that Sportingbet is doing well and that growth and revenue are healthy. In addition to finding itself on the London Stock Exchange, the company announced that last October it was able to re-establish dividend payout to stockholders.