Sky City's Canbet books bumper month

The Canberra-based sports betting company says the result brings its turnover for the six months to the end of 2000 to A$139 million, more than A$100 million greater than the same period the previous year.

Bets from the United States dominated the company's December figures, with 89% originating from North America, 7.7% from Australia and the balance from customers in another 30 countries.

Most bets were made on NFL Gridiron games, followed by NBA Basketball, College Basketball, College Football and Ice Hockey.

SkyCity last month announced it had completed extensive due diligence of Canbet and confirmed its intent to increase its stake in the company to 33%.

The proposed investment will provide Canbet with A$14.4 million of new capital over a 12 month period, which the sports betting company will use to increase the working capital in its bookmaking business, allowing it to increase its coverage of sports and the bet types on offer.

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