Betfair Considering £1.5
billion Flotation in the UK
 August
24 -
Betfair,
the world's largest online betting exchange,
is reportedly considering a £1.5 billion flotation in the United
Kingdom,
according to a report that appeared in leading British newspaper,
the Sunday Telegraph.
Although responding to the article, Betfair managing director,
Mark Davies, said that
the flotation was 'just speculation at the moment.'
About two weeks ago, shortly after Betfair announced its interim
results, the online gambling firm's
CFO Stephen Morana was quoted as saying that an initial public
offering (IPO) is always an option.
According to the news story that appeared in the Sunday
Telegraph,
the capital raised by a flotation could be used by Betfair to
facilitate additional acquisitions and consolidations
in the ever-growing online gambling sector.
Betfair was launched in 2000.
Co-founders Edward Wray and Andrew Black together hold 26
percent of the business,
while Japan's SoftBank 9984.JP has a 23 percent interest.
Earlier this month it announced record annual results.
The online betting exchange is said to
process over 6 million transactions a day and over 300 bets a
second.
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