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Emily D. Swoboda

Nambling Notes - May 29, 2008

29 May 2008

Neteller (London: 64.75p / - 5.25p / - 4.44%)

Shares in Neteller, the London-based online payment processor, rose sharply on renewed speculation of a takeover bid of around 95 pence per share, two traders told Reuters on Thursday.

"It's a strong rumor I've heard from a lot of people," said one of the traders, who wished to remain anonymous.

Neteller shares rose 13 percent to 70 pence, or $1.38, by 9:25 a.m. G.M.T., but closed the day down 5.25 pence to 64.75 pence.

Turkey: I-Gaming Spend On the Up

Turkish citizens are spending more than $1 billion gambling on the Internet, despite the fact that the activity is illegal in the country.

Tayfun Acarer, the head of Turkey's Telecommunication Board, told Vatan, a Turkish daily, that more than $1 billion had left the country through online gambling sites in the past six months, meaning citizens are still gambling with Web sites from abroad.

However, a survey conducted in Turkey by a British firm -- which the paper did not name -- found that $5 billion was being spent on Internet gambling in Turkey and that the income earned from the activity is not taxable.

Inspired Gaming (London: 49p / - 15.50p / - 24.03%)

Inspired Gaming, the leisure gaming supplier, is up for sale after receiving a number of approaches, the company announced on Friday.

The company has appointed Global Leisure Partners, a corporate finance firm, to advise it on takeover interest and offers.

Inspired will start by selling off its pubs division, which provides quiz machines to pubs and bars.

Inspired is hoping to raise £40 million, or $79 million, to fund the exit from the pubs division and expand operations in other areas.

Nambling Notes - May 29, 2008 is republished from
Emily D. Swoboda
Emily D. Swoboda