Hilton Group Profit Up in 2006; May Enter U.S. Online Gambling Market
Hilton Group PLC officially became Ladbrokes PLC Thursday after finalizing the 3.5 billion pound ($6.1 billion) sale of its hotels business to its U.S. namesake, leaving the British company with just its gaming division.
The company earlier said it would focus on expanding internationally, including possible entry into the United States online gaming market, as it released its final full-year combined profit results showing modest increases in net profit and revenue.
The Hilton Group formally ceased to exist following the release of those earnings when a takeover by its U.S. counterpart Hilton Hotels Corp. was completed. The deal will reunite the U.S. and international Hilton businesses for the first time since the 1960s.
Left with just its gambling business -- comprising some 2,000 betting shops in Belgium, Ireland and the United Kingdom -- Ladbrokes said that it will shortly review its position of not accepting U.S. customers on its online gambling sites.
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Source - AP
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