Sportingbet sees trading uptick

Bid target Sportingbet said this morning that trading had picked up in the last part of the year, as the negotiations over William Hill’s joint takeover look set to come to an end.

In a statement before the gaming group’s AGM, Sportingbet said that it would meet its current expectations for the full year ending next July, following a challenging start to this financial year.

“The group has seen a return to more normal levels of activity in November and in the first half of December,” it said.

William Hill and partner GVC were yesterday given more time to finalise a takeover for Sportingbet. They now have until Friday evening to lodge a formal takeover offer after reaching an agreement on a cash and shares offer valuing the gaming group at around £485m.