MAJOR BRIT BOOKIE TO LAUNCH LONDON IPO?

17 August 2007

NM Rothschild guiding possibly GBP 600 million listing

The British online gambling and betting shop group Betfred is likely to be the next gambling company to list on the London stock exchange. The company, founded by Fred and Peter Done is the fourth largest bookie in the UK and is believed to have hired NM Rothschild to advise it on the possibly GBP 600 million listing.

Only Ladbrokes, William Hill and Coral are larger than Betfred, which was founded by the Lancashire born brothers in 1967.

From such small beginnings the sports book entrepreneurs built an empire of over 670 shops and an online casino, poker room, bingo room and sportsbook. The company website boasts that it turns over in excess of GBP 1.5 billion a year and employs 5 000 staff.

Bet Fred is licensed in the Dutch Antilles, but sources report that it is to re-register in Gibraltar in the near future (see earlier InfoPowa reports) to ensure that it can advertise in the UK when the Gambling Act comes into force on September 1.

Online Casino News courtesy of InfoPowa