| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Online Gambling Site to Possibly Invest in NETeller
- Saturday, 2 Dec 2006
A leading online gambling company is rumored to be in discussions with NETeller, one of the most popular payment method companies among online casinos on the Internet. Dermot Desmond, the business leader, is possibly involved in buying a 10 percent stake in the online gambling money-transferring company. It is thought Desmond bought the stake through a purchase of contracts for difference (CFDs) to avoid having to announce the purchase publicly.
"The sign of CFD interests normally surfaces with a notice of holdings with either Man Financial or Cantor Fitzgerald on it. You would use contracts for difference (CFDs) if you didn’t want the takeover panel to know about your interest," said one online gambling analyst. The rumors seemed to be confirmed when the businessman, who also has investments in an online gambling company, announced that Man Financial, a major CFD provider, had an interest in 10.03 percent of the money-transferring firm, NETeller.
Desmond certainly can afford the purchase – all of the companies in which he has invested perform well. The online gambling company he has invested in is quickly expanding and showed turnover up 27 percent to 878 million Euros in its last 6-month results across all channels. This businessman definitely knows how to invest his money, and knows that both the online gambling industry and NETeller are, at least for the short term, and possibly for the long term, are good investments. | |
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