A post-Olympic sporting lull saw wagers fall nearly £100 million in the three months to October at takeover target Sportingbet, the online betting firm that owns Paradise Poker.
Revenue also fell 35%, which will worry William Hill. The gambling giant, alongside European gaming group GVC, has an offer of more than £400 million in for 15-year-old Sportingbet.
The Sportingbet board, led by chief executive Andy McIver, last month said it backed the bid, after rejecting an initial £350 million offer as “undervaluing” the company. Under Takeover Panel rules, William Hill must make a formal offer next week. McIver said November’s figures would be better, largely due to results Down Under. Australian Derby Day, which attracted big name guests like film star Nicole Kidman and Prince Charles, is one of the most important events in the country’s sporting calendar.
In Europe, gambling in struggling Greece and Spain was significantly down. However, McIver insisted overall annual results for the 12 months to next July should broadly hit market expectations.
