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!

4mins ago someone from Russian Federation read Cool Cat Casino review

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    20
  • Members Online
    409
  • Guests
    1,601
Highest Community Rated Online Casinos
SlotsMillion
  (98 Ratings)
32 Red Casino
  (364 Ratings)
Guts Casino
  (205 Ratings)
Club USA Casino
  (295 Ratings)
Mr Green Casino
  (314 Ratings)
Buzzluck Casino
  (185 Ratings)
Lucky Red Casino
  (233 Ratings)
Videoslots.com
  (176 Ratings)
BETAT Casino
  (216 Ratings)
NextCasino
  (173 Ratings)
Bet365 Games
  (190 Ratings)
Unibet Casino
  (165 Ratings)
CasinoLuck
  (246 Ratings)
Betsson Casino
  (238 Ratings)
Betsafe Casino
  (214 Ratings)
Redbet Casino
  (175 Ratings)
ComeOn Casino
  (281 Ratings)
Spin Palace Casino
  (129 Ratings)
Casino Extreme
  (184 Ratings)
Slotty Vegas
  (127 Ratings)
Intertops Red Casino
  (140 Ratings)
Sunnyplayer Casino
  (44 Ratings)
Vera John Casino
  (199 Ratings)
Thrills Casino
  (159 Ratings)
Slotland
  (344 Ratings)
Sin City Casino
  (113 Ratings)
Ladbrokes Casino
  (167 Ratings)
Liberty Slots Casino
  (214 Ratings)
Winner Casino
  (364 Ratings)
Win A Day Casino
  (361 Ratings)


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