Canbet Sold To Yin Khing

Canbet will be sold to Yin Khing Investments Ltd., the Virgin Islands registered investment company headed by Patrick Tay and Elson Yin, for for 1 million Australian dollars. The bookmaker has been looking to sell its business since March 2008.

Canbet reported an 8.6 million Australian dollar loss for the 2008 financial year.