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Skipping through the P&L the other day I saw that the Betdirect acquisition burnt a big hole into last year’s bottom line. It was probably a wise decision to focus on the Casino/Poker activities and leave the Sportsbetting to Stan James who have more experience in that field.
Bought for 12.5m last year
Sold for 5.5m this yearA GBP 7m loss in one year = congrats?
:Cry:Well, congrats for not losing all of it. I guess the house doesn’t always win :tongue:
But if you’re losing I think it shows good judgment to realise when you need to pull the trigger on an investment. It looks bad as it is but I think Betdirect could have turned into a bottomless hole for 32red. Stan James on the other hand probably made a bargain and will know what to do to turn around Betdirect.
