Widely speculating rumors that 888.com and Ladbrokes were discussing a merger can now be deleted as the two companies announced that their talks concerning a 'business deal' have mutually and in a friendly fashion been discarded. 

Ladbrokes, the gaming group and the 888 Internet gambling concern, according to British media reportage, had stopped holding discussions in relation to a potential transaction.

Back in October the previous year, conjecture began to circulate when both firms began to hold talks, however, it was stated that the talks were disrupted and put off due to the developing legislation in the United States over the Unlawful Internet Gambling Enforcement Act, which intends to break up any business deals associated with Internet gambling.  

According to the International Herald Tribune, Ladbroke was searching for methods to stall any liabilities in the United States that might occur due to taking over 888 while the United States persists in its attacks on gambling over the Internet. Due to the UIGEA, 888.com exited the United States, although earlier to that had embarked on geographical diversification in its commercial operations, and unlike some public firms was not particularly affected.

888 has gone on to construct its operations in other locations since the legislation in the United States, and in December it received a license for Internet sports betting in Italy, and it signed a contract with Rileys, the one hundred and sixty eight snooker, pool and poker clubs in February, something leading up to Rileys Internet site receiving backing by 888.

On Monday, shares in the parent 888 Holdings PLC based in Gibraltar, fell by five point seven percent, when the company's talks were abandoned and became publicly announced.

Posted on: April 30, 2007

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