Online Casino Style: News - Betfair Rumors Flair Up

09/29/2010		Online Casino Style - News: Betfair Rumors Flair Up
Home History Games News Dictionary		It seems that the rumors surrounding the online gambling giant Betfair are escalating this week with some industry experts wondering if this or the next week might be crunch time for going public. According to a report by the United Kingdom’s news source, The Sunday Times, all of the indicators are there that if its going to happen, it will be in the next few weeks, as pressure to launch the £1.5 billion public offering is at an all time high. Breaths are being held at this point, because the switch of Betfair from a privately owned company, to a public option would mark one of the largest flotations of the year. But for now, answers are not forthcoming from the online gambling firm, and so its been left to the revolving rumors. Even the launch price of the shares isn’t exactly known, though there are plenty of guesses abounding. In 2003, one technology company and investor paid £355 million for a 23 percent share in the company. Softbank paid that price in 2003, and the recent newspaper report from the Sunday Times estimated the overall worth of the internet casino firm to be at least £1.5 billion by this year, 2010. Should the deal go through, the two biggest beneficiaries of such a decision would clearly be Andrew Black and Ed Wray, partners and founders of the Betfair brand. Together, they currently own 25 percent in the firm, while the majority of the rest of its assets are split up amongst investment companies and shared interests.

09/29/2010

Online Casino Style - News:
Betfair Rumors Flair Up

It seems that the rumors surrounding the online gambling giant Betfair are escalating this week with some industry experts wondering if this or the next week might be crunch time for going public. According to a report by the United Kingdom’s news source, The Sunday Times, all of the indicators are there that if its going to happen, it will be in the next few weeks, as pressure to launch the £1.5 billion public offering is at an all time high.

Breaths are being held at this point, because the switch of Betfair from a privately owned company, to a public option would mark one of the largest flotations of the year. But for now, answers are not forthcoming from the online gambling firm, and so its been left to the revolving rumors. Even the launch price of the shares isn’t exactly known, though there are plenty of guesses abounding.

In 2003, one technology company and investor paid £355 million for a 23 percent share in the company. Softbank paid that price in 2003, and the recent newspaper report from the Sunday Times estimated the overall worth of the internet casino firm to be at least £1.5 billion by this year, 2010. Should the deal go through, the two biggest beneficiaries of such a decision would clearly be Andrew Black and Ed Wray, partners and founders of the Betfair brand. Together, they currently own 25 percent in the firm, while the majority of the rest of its assets are split up amongst investment companies and shared interests.