Stock Market Flotation Plans for Betfair
Betfair Casino
Provider of popular online casino, sports betting, poker and exchange betting products, Betfair, have announced their plans to list their shares on the London Stock Exchange. The company, which has only been in existence for just over 10 years is estimated to be worth around £1.5 billion has three million customers and is currently owned by 14 major investors. Betfair was originally founded by Andrew Black and Edward Wray and started off primarily with a sports betting exchange product that allowed punters to back or lay potential outcomes as they saw fit.
However, the rapid growth of the company has meant that the company now offers poker, online casino and even arcade games. In their online casinos and arcade products, Betfair made the decision to not stick to one software provider but to pick and choose what they saw as the best online games available. This decision has proved to be beneficial as the casino has also grown massively in popularity, similar to the sports betting exchange product owned by the company.
Betfair’s move to list their shares on the stock market shows the intention of the company to become a global entity. A statement from the company said that they had identified multiple areas where they could considerably expand their interests.
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