32Red postpones release of interim results, BetDirect hard to value

September 29th, 2007

While in negotiations to offload BetDirect, the company which may or may not be in the process of being sold to Boylesports, 32Red has been unable to pin down numbers for its midterm report. 32Red released a statement to the London Stock Exchange saying, “The company expects that the half-yearly report will be published when there is greater clarity in relation to the sales process.”

32Red purchased BetDirect in May 2006 for 12.5 million pounds, and there has been extended difficulty in valuing BetDirect currently.


Article Credit: Robin

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