Sportingbet looking at merger with Unibet - report

LONDON (Reuters) - Online gaming operator Sportingbet SBT.L has held merger talks with Swedish rival Unibet UNIBsdb.ST, the Sunday Times reported, without naming sources.

The companies have held talks to create a merged group worth 600 million pounds, although there were still “lots of hoops to go through,” the paper said. Any announcement would likely not come until well into next year, it said.

Sportingbet has long been considered an attractive M&A play in the consolidating betting sector, especially since it reached a settlement in September with the United States over previous activities in the country, where online gambling is illegal.

Sportingbet declined to comment on the report.

Reporting by Rosalba O’Brien; Editing by Dan Lalor