Australian based gaming giant Betcorp (ASX: BCL) has officially confirmed the acquisition of Sinsational Intertainment Inc. (Cybersportsbook.com). Sinsational is a North American focused online sportsbook and casino, established in 1999, which generated gross profit of USD $7 million on a combined online casino and sportsbook turnover of just over USD $200 million in the 2004 financial year. This purchase by Betcorp, mother company of BetWWTS.com, confirms that Cybersportsbook.com is indeed a viable business model that offers sound strengths such as their popular proprietary software -which offers players in game live betting possibilities-, a data base nearing the 10,000 active recreational customers and a strong brand. The purchase was announced on the Australian Stock Exchange this morning and the deal encompassed an amount of approximately $6.5 million dollars and a total volume of nearly 21,500,000 company shares at an excercise price of 0.25 each.
On previous statements, Betcorp said they would be looking into further opportunities of expansion and acquisition in the industry. believe the negotiations conducted by BetWWTS's parent company in this regard are simply part of the consolidation process reigning in the industry nowadays. This is not an isolated event, but it will rather be a sustained effort by the largest gaming conglomerates and groups. In this environment, newly launched operations will need a tremendous amount of resources to be able to stay competitive in a market dominated by consolidated giants.
What does this mean to you as a player? It means that in the near future, newly-launched operations will most likely up their outrageous bonus offers, in order to lure players into making a deposit. We have seen the results of such a practice over and over again: failed operations that end up stiffing their players.
NFL Season is still way ahead of us, but rest assured you will see this rogue operations popping up soon. Be leery of any outrageous bonus offer by a new sportsbook.
On previous statements, Betcorp said they would be looking into further opportunities of expansion and acquisition in the industry. believe the negotiations conducted by BetWWTS's parent company in this regard are simply part of the consolidation process reigning in the industry nowadays. This is not an isolated event, but it will rather be a sustained effort by the largest gaming conglomerates and groups. In this environment, newly launched operations will need a tremendous amount of resources to be able to stay competitive in a market dominated by consolidated giants.
What does this mean to you as a player? It means that in the near future, newly-launched operations will most likely up their outrageous bonus offers, in order to lure players into making a deposit. We have seen the results of such a practice over and over again: failed operations that end up stiffing their players.
NFL Season is still way ahead of us, but rest assured you will see this rogue operations popping up soon. Be leery of any outrageous bonus offer by a new sportsbook.
