Betfair plans stock market flotation
Betfair, the internet betting exchange, is to list on the London Stock Exchange in a bid to build its inernational operations.
The firm, which cuts out bookmakers by allowing punters to bet against each other, highlights Europe, Australia, India, China and the US as future growth opportunities.
Betfair has been marketing heavily this year as it looks to grow revenues in the UK. It launched a television and online campaign in August to postion the brand as the “world’s biggest betting community”.
It has also sought to align itself with football fans by signing sponsorship deals with Manchester United and FC Barcelona.
David Yu, chief executive of Betfair, says in the statement: “Betfair has delivered sustained revenue growth and continued profitability, and this success, along with our debt-free balance sheet, underpins our confidence to continue investing in the many opportunities we see before us for the long-term success of the business.”
Betfair also offers poker and other casino betting forums.
