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!

3mins ago someone from Germany played Heist

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
    18
  • Members Online
    297
  • Guests
    1,929
Highest Community Rated Online Casinos
NextCasino
  (142 Ratings)
Bet365 Games
  (160 Ratings)
Unibet Casino
  (123 Ratings)
CasinoLuck
  (214 Ratings)
Betsson Casino
  (204 Ratings)
Redbet Casino
  (136 Ratings)
Spin Palace Casino
  (111 Ratings)
Mr Green Casino
  (271 Ratings)
Betsafe Casino
  (177 Ratings)
Slotty Vegas
  (101 Ratings)
32 Red Casino
  (294 Ratings)
Guts Casino
  (167 Ratings)
Liberty Slots Casino
  (169 Ratings)
Winner Casino
  (329 Ratings)
Sin City Casino
  (93 Ratings)
BitCasino.io
  (166 Ratings)
ComeOn Casino
  (231 Ratings)
Vera John Casino
  (167 Ratings)
Intertops Red Casino
  (117 Ratings)
Intertops Casino Classic
  (106 Ratings)
BETAT Casino
  (187 Ratings)
Thrills Casino
  (125 Ratings)
Ladbrokes Casino
  (148 Ratings)
Royal Vegas Casino
  (128 Ratings)
Casumo
  (127 Ratings)
Jetbull Casino
  (100 Ratings)
Slotland
  (291 Ratings)
Whitebet Casino
  (87 Ratings)
InterCasino
  (131 Ratings)
Betfair Casino
  (201 Ratings)


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