Losses widen at Sportingbet.com

12 April 2012

FIRST-quarter figures from online sports betting company Sportingbet.com failed to fight off bear raider Simon Cawkwell, known as 'Evil Knievel' who has been betting that its shares will fall.

The stock slipped 4 1/2p to 75 1/2p as the group revealed losses in the three months ended last month of £1.5m against a loss of £1m previously. The shares have slumped from a high of 167 1/2p in January to 72p earlier this month.

Chief executive Nigel Payne refused to comment on reports that he was taking further action against Cawkwell following his complaint about him earlier this month to City regulators.

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