SOURCE: www.gibfocus.gi

Lower profit margins, losses from the U.S. online market ban and asset sales have begun to take their toll on the online industry with 32Red now indicating that it is to sell BetDirect which recently relocated to Gibraltar.

32Red are said to have made a statement to the London Stock Exchange confirming that they are in discussions regarding the sale of BetDirect.

The company was bought 18 months ago for £12.5 million. However, described as having poor trading figures it is said to have affected the group's overall finances leading to the decision of putting it up for sale.

Reports of a sale have surprised the industry after BetDirect is said to have increased its customer base since the acquisition.

Boylesport based in Ireland has been reported to be allegedly interested in the company.