[indy62]

i do not know if this affects any one here..New Lease on Life for Portlandbet

Less than two months after betting operation Portlandbet was closed down by parent company Marginbet, the doors are set to be reopened with an undisclosed private company purchasing the thought-dead firm for $55,000.

In December last year, Portlandbet ceased trading only months after Marginbet publicly raised $2 million to expand its gambling business. With much of the initial interest in Portlandbet falling through once the doors were closed, it was expected that Portlandbet would be wound up. An unnamed private company, however, has stepped in to purchase the Canberra based betting operation, who made its name with the most comprehensive election betting coverage in Australian history.

It is expected Portlandbet will re-open under the new ownership once the period of due diligence is complete. At this stage it is expected existing Portlandbet clients will have their accounts reactivated and will not be required to go through the process of opening a new account.

From a wagering perspective, it is certainly beneficial to have another bookmaker in operation. More bookmakers mean more betting options and an increased likelihood of better prices. The re-opening of Portlandbet is certainly a positive for the Australian gambling industry.

[Bill Dozer]

Thanks indy

[brock]

never heard of them thanks for the info

[bigboydan]

Thanks for the update on them Indy62.

Brock, They are an Aussie book.

[bigboydan]

Originally Posted by brock

never heard of them thanks for the info

Heres todays report of them below, along with a link that will give you everything that we have in the SBR archives about them sir.

2/1/2008 03:42 PM

Portlandbet (not rated) website message states the book will reopen; pay debts

"The transfer of ownership is being finalized and we will be in a position to process any outstanding transactions in the coming days." | Full message
SBR does not currently have any pending payout complaints.