RealTime IT News

Betting on the Bettors

London-based digital wagering operation UKBetting plc is acquiring a sports betting business unit from Ltd., the discontinued European venture that counted among its partners , publisher of CBS

Being acquired by UKBetting is SCG Enterprises, the wagering side of Ltd., for about $1.03 million., which is 30 percent owned by, was recently put in "administration," a UK procedure in which a court-appointed official assumes control of a company in order to determine whether a business should be reorganized, sold or liquidated.

UKBetting said that it is paying off liabilities of and purchasing the entire betting operation, including 24,000 betting customers, and the URL This takes UKBetting's customer list to more than 100,000, the company said.

A spokesman for told that its investment in the European venture has been carried on its books as a discontinued operation for about a year. The betting side is aimed at UK and European bettors (soccer, horse racing and other sports) and was not available to U.S. residents.

UKBetting also operates content sites and

Separately, Fort Lauderdale, Fla.-based SportsLine said the domain itself was sold to an unnamed "unrelated third party." SportsLine had licensed the domain name to Ltd.

"We and the other shareholders were unwilling to provide additional capital to fund's operations and we support the decision by the board ... to place the company in administration in order to protect the creditors," said Michael Levy, founder, chairman and CEO of, at the time the UK operation was put in administration.