Betfair set for flotation (update)


Prospectus values company around GBP1.48 billion

Confirmation of rumours that have been circulating for months came this week with the release of a prospectus on Betfair's flotation of 10 percent of its stock on the London exchange.

The company has set a price range per share of GBP11 to GBP14, valuing the group at almost GBP1.50 billion. The wide price range reflects mixed views that have been expressed on the company's prospects for growth in countries with strict regulations on gambling, such as the U.S., and for its new financial-trading platform, LMAX.

Betfair's majority holders, which include founders Andrew Black and Edward Wray and Japanese telecommunication company SoftBank Corp., are offering at least 10 percent of the company's stock.

The prospectus reveals that Betfair has some 3 million registered users, and that revenue in the year to April 30 was up 13 percent at GBP340.9 million.

Betfair has US horse racing interests in TVG, which is licensed in 17 states, and plans to use this as a bridgehead into the lucrative US market in the event of any relaxation in tough online gambling laws either at federal or state level.

The company advises that the final IPO price will be set October 22 and the stock will start trading conditionally on that day, going to full unconditional trading just under a week later. Morgan Stanley and Goldman Sachs Group Inc. are advising the company.

General Gambling News Gambling Law & Society News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

1mins ago someone from United States played Wipeout

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
    17
  • Members Online
    337
  • Guests
    2,126
Highest Community Rated Online Casinos
NextCasino
  (127 Ratings)
Bet365 Games
  (151 Ratings)
CasinoLuck
  (199 Ratings)
Betsson Casino
  (191 Ratings)
Redbet Casino
  (123 Ratings)
Unibet Casino
  (116 Ratings)
Spin Palace Casino
  (104 Ratings)
Slotty Vegas
  (92 Ratings)
Guts Casino
  (149 Ratings)
Mr Green Casino
  (259 Ratings)
Betsafe Casino
  (169 Ratings)
32 Red Casino
  (274 Ratings)
ComeOn Casino
  (211 Ratings)
BitCasino.io
  (153 Ratings)
Winner Casino
  (318 Ratings)
Vera John Casino
  (160 Ratings)
Intertops Casino Classic
  (97 Ratings)
Sin City Casino
  (81 Ratings)
Jetbull Casino
  (90 Ratings)
Liberty Slots Casino
  (153 Ratings)
Thrills Casino
  (114 Ratings)
Intertops Red Casino
  (108 Ratings)
Ladbrokes Casino
  (141 Ratings)
Casumo
  (112 Ratings)
BETAT Casino
  (174 Ratings)
Whitebet Casino
  (81 Ratings)
3Dice Casino
  (230 Ratings)
PlayHippo
  (64 Ratings)
Slotland
  (272 Ratings)
River Nile Casino
  (90 Ratings)


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