The Payne-less Struggle Towards The Top of Internet Gaming
”Online gaming is licensed and taxed in 63 countries worldwide and the United States should be taking advantage of this $10 Billion market,” Nigel Payne, Chief Executive of Sportingbet PLC, said in an interview for CBS 60 Minutes.
Sportingbet operates a number of brands, the largest of which are Sportsbook.com and ParadisePoker.com.
”Gambling has existed since the dawn of time,” Payne added during briefings with decision makers in Washington.
”America is one of the largest gambling markets in the world with developed gaming in lotteries, casinos, horse racing, dog racing and sports. Gambling exists in every country in the world. The right thing to do, the responsible thing to do, is to regulate it and embrace proper social parameters through regulatory control.”
In it’s results for the 12 months ending July 31, 2005, Sportingbet reported an operating profit before good will and exceptional items of $US105 million, up from $US 36 million the previous year. The number of customers worldwide using Sportingbet’s facilities increased by 123 per cent to 2.7 million and the number of sports and gaming bets was up 51 per cent to almost 400 million from 265.5 million in 2004.
Sportingbet, headquartered in London, England, is the world’s leading publicly traded online betting, gambling and gaming company. It has been voted number one in the industry for two years in a row by the authoritative eGaming Review Power 50 Survey.
Sportingbet also won the 2005 eGaming Award for best US-Focused company with its flagship brand sportsbook.com. Sportsbook.com is the largest sportsbook and casino on the planet, offering numerous products including sports betting, horse racing, poker, casino and virtual games.
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