SportingBet, Unibet withdraw from merger talks

[The Buzz]

Reuters is reporting that British online gambling company Sportingbet says Swedish firm Unibet has withdrawn from merger talks. Sportingbet shares dropped after the announcement.

Sportingbet was recently in the news after it paid $33 million to the U.S. government to settle an illegal gambling case in September.

From Reuters:

Sportingbet, however, remains in talks with several other parties over potential deals, a source close to the company told Reuters over phone.

Sportingbet was seen as a likely target in the wake of the industry-transforming merger between PartyGaming and Austria's bwin, which piled pressure on rivals and traditional bookmakers to keep pace.

[JoeAdams]

Sad story. I wonder how they surpass their said consecutive losses. Surpassing a single loss is not that big deal but followed with the second one is another story.