21st of October 2011 Author: Glo Wood
First sale now the shutdown
In light of recent sale of Sportingbet plc's Turkish language website superbahis and associated offshore assets to East Pioneer Corporation B.V. supported by a services agreement with GVC Sports, a subsidiary of GVC Holdings plc, a new report came this week, informing the public that Turkish authorities shut down the site on October 14, warning local industry that it would take action against all illegal online gambling sites.
However, this did not seem to be of much concern for either GVC, or Sportingbet CFO Jim Wilkinson, who said: 'We're very confident the situation will continue for three more years as it has for the last five.'
Considering the amount paid for the Turkish assets - GBP 125 million, the actions have triggered too little concern. Further development is to be seen in the period to come.
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