Sporting Index Changes Hands Again

Sports spread betting group Sporting Index has changed hands again.

The company has been bought by HG Capital from previous owners Duke Street Capital in a GBP 75.8 million deal, giving a substantial profit - Duke Street paid GBP 53 million for it in March 2003.

The UK media reports that CEO Richard Glynn will retain a "meaningful stake" in the company, which has a customer base of 45 000 and an estimated 70 percent market share in its sector.

Company sources predicted new acquisitions and an expansion drive into the Scandinavian, German and Italian markets.

The new owners had previously invested in Paddy Power and have an established track record in leisure and entertainment commerce.