Betcorp in talks for the sale of its U.S. business

Betcorp is one of a wide number of public companies in the online gambling industry that have seen their share prices and company values dramatically decrease after the Unlawful Internet Gambling Enforcement Act.

Betcorp had to suspend all players accounts of United States residents in response to the new law signed by President Goerge W.Bush and now is in talks to sell the business. This had been slowed as still has to come the approval of shareholders and the regulatory approval from the Antigua goverment.

"The board is continuing discussions with a number of unconnected parties who have expressed interest in the acquisition of the group's gaming operations and infrastructure", Betcorp said in a public statement.

Betcorp stock has fallen 77% only in the last few days, and same is happening to the rest of the sector, which lost about Eur. 4 billion of market value. Betcorp has promised further announcements within the next two weeks.