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US situation a serious problem
Under the headline 'Number's up for 888.com buyout', the Sunday Telegraph reported at the weekend that Ladbrokes' GBP470 million much talked about takeover of Gibraltar-based 888.com had run into trouble. The Telegraph quotes several sources close to the deal as saying the spectre of US litigation over 888.com's previous trading in America remains a sticking point that is insurmountable.
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The US Congress outlawed internet gambling ffinanacial transactions last year, prompting the US Department of Justice to adopt a more aggressive approach to Internet gambling offshore and issue subpoeanas to UK investment banks and lawyers, requesting paperwork and emails linked to the former activities of UK online gaming companies including 888.com.
Ladbrokes chief executive Christopher Bell is thought to have become nervous about the deal when John Anderson, 888.com's non-executive director and former chief executive, was one of several online gaming executives called to answer questions by French authorities (see previous InfoPowa reports)
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