Betfair may go public


Finance director hints that it may be an option

Betfair's sparkling results released yesterday (Wednesday) have sparked further media speculation that the UK online gambling firm may be looking to go public.

Company revenues soared 27 percent to GBP 303 million and profits were up 29 percent at GBP 72 million, whilst active user members tripled to 650 000 .

CEO David Yu hailed the results as "...a progression to online betting [away from the High Street] as people want to be more selective on what they bet on and find better value."

The company has cash resources of GBP 133 million, obviating the need to raise capital, but as finance director Stephen Morana observed on the question of an IPO: "We don't need to raise capital but we will need a liquidity event [to allow shareholders to cash in]... A float is an obvious option."

Betfair is currently part-owned by founders Bertie Black and Ed Wray (25 percent), 20 percent by Softbank of Japan and 25 percent is in private equity

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

5mins ago someone from United States read Lucky Balls review

Casino Of The Month

Casino of the Month

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    24
  • Members Online
    407
  • Guests
    1,922
Highest Community Rated Online Casinos
Guts Casino
  (285 Ratings)
32 Red Casino
  (520 Ratings)
Club USA Casino
  (396 Ratings)
Mr Green Casino
  (383 Ratings)
Buzzluck Casino
  (258 Ratings)
Lucky Red Casino
  (304 Ratings)
Videoslots.com
  (254 Ratings)
CasinoRoom
  (251 Ratings)
Bet365 Games
  (250 Ratings)
NextCasino
  (255 Ratings)
Raging Bull
  (192 Ratings)
CasinoLuck
  (326 Ratings)
Unibet Casino
  (235 Ratings)
TradaCasino
  (103 Ratings)
Betsson Casino
  (318 Ratings)
Redbet Casino
  (232 Ratings)
SlotsMillion
  (164 Ratings)
Betspin
  (55 Ratings)
Betsafe Casino
  (297 Ratings)
Vera John Casino
  (253 Ratings)
Casino Extreme
  (278 Ratings)
ComeOn Casino
  (358 Ratings)
Istanbul Casino
  (52 Ratings)
Ladbrokes Casino
  (203 Ratings)
InterCasino
  (204 Ratings)
Thrills Casino
  (247 Ratings)
Bet365 Casino
  (496 Ratings)
Slotland
  (436 Ratings)
Slotty Vegas
  (175 Ratings)
Sportingbet Casino
  (145 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus