Sportingbet share price up 12% after news of U.S. DoJ settlement

Investors were clearly pleased with the news this week that Sportingbet had settled with the US authorities and cleaned its slate of pre-UIGEA hurdles. The $33 million settlement triggered an almost immediate reaction from the London market, where the company's shares soared 12%, raising the market value of the business to some £400 million.

Analysts opined that by removing the threat of US prosecution, Sportingbet has set itself up as a desirable acquisition by other groups active in the industry's trend toward consolidation, with Party Gaming tipped as a possible buyer. At the same time the online gambling operator has made itself considerably more appealing to investors.

Source: InfoPowa News