It really looks like Partygaming is preparing for some sort of bid for a UK online gaming operation and as reported earlier on this site Partygaming are cooling on VCbet and possibly are looking at UKbetting the online sports content and gaming company.

An auction of its internet betting arm, which does not take bets from punters in the United States, is likely to attract considerable interest, as online gaming companies such as PartyGaming and 888 Holdings are looking at sportsbook acquisitions.

Peter Dubens, chairman of Ukbetting and 8 per cent shareholder, who declined to be drawn on possible disposals, said: “The full value of the two parts of the business is not reflected in the current valuation.”

A further clue to a possible exit from betting was provided in yesterday’s interim results statement, which alludes to plans to change the company’s name to reflect the growing strength of its online media business.

Ukbetting owns a network of sports content websites that includes teamtalk.com, planet-rugby.com and sportinglife.com. It said that in the first half of the year more than nine million users a month had viewed more than 400 million pages, driving record growth in advertising, affiliate and content syndication revenues. Overall, pre-tax profits before goodwill and share option costs rose 64 per cent to almost £1 million, from turnover up 12 per cent to £62.4 million.