VIP deal official

tacomax · 10-14-06, 11:47 PM

I went to Taco Bell today and bought a bean burrito and a drink and it cost me about $2. For $1, I could have bought out VIP. I think I've been ripped off.

SBR_John · 10-15-06, 12:03 AM

Originally posted by tacomax

I went to Taco Bell today and bought a bean burrito and a drink and it cost me about $2. For $1, I could have bought out VIP. I think I've been ripped off.

Heck for $2 bucks you could have Sportingbet and VIP! Cough up another .50 and you'd land WWTS.

These are sure wierd times.

Dark Horse · 10-15-06, 12:29 AM

lol

So nothing changes, except a symbolic sale from public to private ownership. Does Alistair still walk around these regions with the same A-list air?

Lucas · 10-15-06, 12:31 AM

I do not know anything about L&G and Sportingbet shareholders, but I suggest that they (I mean minority shareholders) are not happy that they can share 1 USD for the world biggest market.

bigboydan · 10-15-06, 12:32 AM

The long and short of this sale is this is just for legal purposes only i'm sure in order to take US players. It's just a joke to have to go thru all this B.S. in order to keep there shareholders happy.

Lucas · 10-15-06, 12:39 AM

I understand that the change of the owner was the only way, but 1 USD??? Selling part of a firm so huge underpriced... hmmm... If I were minority shareholder I would hire a lawyer quickly.

SBR_John · 10-15-06, 01:38 AM

Keep in mind that L&G will record a gain of many millions plus the $1 they pocketed. The new owners will have to cover player balances. So its really $1 plus probably $15 million in liabilities.

Lets see how the stocks act today. Its a terrible deal for L&G but by my calculations their book value is now higher than their share price. So even though they lost 90% of their assets I would expect the stock will rise on Monday. We will see.

Scorpion · 10-15-06, 02:08 AM

Originally posted by Bill Dozer

The Company announces that it has sold all of the shares of its wholly-owned subsidiaries, VIP Management Services N.V (“VIP”), Bon Bini Investments N.V., EH Gaming Ventures Inc, ECom ServCorp Inc. and Nine Holdings N.V. (together the “Subsidiaries”) to Stockdale Investment Ltd (“Stockdale”), a newly incorporated company established by Alistair Assheton, former Chief Executive of LNG. The sale of the Subsidiaries (the “Sale”) represents the divestiture of all US facing operating assets of the Company. The consideration for the Sale is $1 paid on today’s completion of the Sale.

Can the U.S. residents still play at VIP or no?

pags11 · 10-16-06, 02:48 AM

yeah, I'd like to know if U.S. customers can still play with them as well...