Bodog buy Betcorp for $11million

Betcorp Ltd, the Australian internet gaming company, have sold its operations in Toronto, Canada and Antigua for $11 million to Bodog Entertainment Group SA.

The company stated that the recent U.S laws on internet gambling had forced the sale as it was impossible for them to provide services to U.S residents. The sale was inevitable since 85% of the company’s revenue came from the U.S.

Bodog, one of the internet’s most popular casinos, and founded by controversial entrepreneur Calvin Ayre, stated this could be the first acquisition of many.

“This purchase, which speaks directly to the current strength of our business, is the first of many possible international acquisition targets under consideration” said Ayre.

Editor, - 2006-10-24 11:31:33

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