Having a yearly one point two billion dollars turnover, International All Sports Ltd is a global leader in the world gambling and gaming arena. This firm is undoubtedly robust according to their website. The IAS Group subsidiary has now given confirmation that Sportsbet has made a take over offer for its assets, the latter company is fifty one percent owned by Paddy Power sportsbook. It has been confirmed that international shareholders are in agreement over a point six cents share price.

Through its fifty one percent holding in Sportsbet, Paddy Power has taken nineteen point nine eight percent of the public gambling firm, while Mark Read retains nineteen percent. As Mr Reads is about to receive almost eleven point six million dollars, it seems his status is remarkably strong.

Only point three three cents per share was bid for International All Sports by Centrebet, the gambling competitor, in the previous year. Centrebet probably won’t make another offer.

Barry Coulter, the IAS’s board chairman, expressed delight over the transaction, claiming pride that Paddy Power and Sportsbet maintained the trust that the firm he established in 1995 would provide for their current business a worthy supplement. The takeover will probably be concluded by 8th October, 2009 if the shareholders agree with the takeover.

Sportsbet will become a global leading gambling firm due to the IAS takeover. Last year, for both firms, the joint turnover was two billion dollars. Nobody is sure what will happen next. Since yesterday, the ISA shares have been static at half a cent in a trading pause. IAS’s CEO Mr Barry Coulter, submitted a strong recommendation for taking the bid to the shareholders as other proposals were not forthcoming.

Posted on: June 22, 2009

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