Pagebet a British sports betting company which is both land based as well as online, has committed its online gambling venture into a receivership, according to the local newspaper The Northern Echo. Nevertheless, the company is in agreement with Tenon Recovery who is the receiver manager, to buy out the resources of its online outfit to at least safeguard nine careers within its headquarters which are situated in Durham.
The company has also gone ahead to assure customers that all online investments will be protected and fail safe.
Pagebet now intends to devote its total attention to developing its string of major betting establishments, together with its upcoming telebetting venture, and has plans to inaugurate a 
57th outlet at Shiremoor. It also has advanced plans to obtain as many as 25 new outlets by raising the sum of around GBP 2 million, through an anticipated public offering.
Clients will still be able to receive direct access to information regarding a wide variety of gambling markets and prices full through pagebet.com, although they won’t be able to place online bets.
Pagebet CEO Austin Carney justified the resolution to quit the lucrative betting sector commented that the company required a heavy amount of investment, in order to grow during the time of recession. This was however conflicted with the board of director’s vision for the company, as well as the business’s’ equity partner.
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