As reported by: This is Money
SPORTINGBET shrugged off the collapse in confidence in the future of internet gambling today, posting a fivefold increase in profits and a 50% rise in the amount of punting by its customers.

Chief executive Nigel Payne said: 'The whole thing has been overblown. From where I am standing, volumes up 50% this year after being in business for seven years is something any company in any industry in any part of the world would want.

'Our poker rake is up 71% year-on-year and 22% quarter on quarter. That is is not a slowdown.' Sportingbet, whose shares have fallen a fifth in a month, has been caught up in a £5bn sell-off of internet poker rooms and cyber casinos stocks, which has seen some of them halve in value.


Article By: This is Money