Sportingbet in talks to sell US business

London – Online bookmaker Sportingbet inched higher Wednesday after admitting it is considering a number of approaches that it has received for its US facing business.

The group believes that any sale of the business must be completed prior to the proposed US anti-Internet gambling Act becoming law, but that it is not likely to realise a significant cash consideration.

The move comes after a bill banning online gambling in the US was passed by Congress earlier this month, sending the entire Internet gaming industry into disarray.

There was no indication in the statement as to how many potential bidders the company was talking to or how much they would be prepared to pay for the business.