22-02-2008 Online casino provider asks Redbet 5 million euros in damages

EB Nordic filed a lawsuit against Redbet in 2007 after the betting exchange operator pulled out of the deal to buy the online casino provider claiming that some of the financial data provided was incorrect.

In related news, Redbet announced disappointing results for 2007 while betting exchange market makers Betting Promotion continued to experience strong growth with a 30% rise in betting turnover and stable gross margins.

"Soccer, in particular, continued to show a high gross margin. I am confident that the technical improvements made during the fourth quarter will be beneficial to the gross margin from live betting," commented Johan Moazed, Managing Director of Betting Promotion.

Soccer represents 64% of the total betting turnover of Betting Promotion, with live betting accounting for 23% of it.

In other news, Scandinavian newspaper Aftonbladet entered into an online bingo affiliate deal with Svenska Spel, while Net Entertainment announced a deal to supply Bet-At-Home.com with an online casino in the second quarter of 2008.