The Smart Money Would Bet on Betfair
Betfair beauty parade takes IPO closer
FT.com, by Matthew Garrahan
Betfair, the world's largest internet betting exchange, is close to appointing an IPO adviser after holding a beauty parade this week when it saw bankers from Goldman Sachs, Morgan Stanley and UBS.
In the clearest sign yet that Betfair is close to an IPO that could value it at £500m, the group will make its appointment in July with the two US banks believed to have the edge over UBS.
Betfair going from strength to strength
silicon.com, by Will Sturgeon
And with summer of sport ahead the dot-com exchange could cash in further...
Pioneering internet betting exchange Betfair.com has recorded continued growth after its model of allowing punters to trade bets with one another continued to win hearts and minds among the UK gambling public over the past 12 months.
Betfair is increasingly singled out as the current poster child of UK dot-com success and reported a 61 per cent increase in annual revenue and an 87 per cent hike in profits to support such claims.
Betfair profit races ahead amid talk of flotation
Betfair, the world's biggest person-to-person betting exchange, has posted an 87 per cent rise in underlying full-year profit amid growing speculation of a stock market flotation.
Betfair chief’s stake could pass £10m with flotation
Times Online, by Dominic Walsh
The chief executive of Betfair, the betting exchange, has been given shares that will be worth more than £10 million when the company pursues its expected stock market flotation.
Stephen Hill, a former chief executive of the Financial Times Group, who joined Betfair in July 2003, stands to get 3.13 million shares, which have been put into an employee benefit trust in his name.
Betfair's profit surge adds to talk of possible flotation
Telegraph, by Alistair Osborne
Betfair, the world's biggest person-to-person betting exchange is expected to decide next month whether to press ahead with a London flotation, valuing the business at as much as £700m-£800m.
The company, which yesterday posted an 87pc rise in underlying full-year operating profits to £22.3m on revenues up 61pc to £107m, is likely to decide before its annual meeting on July 19.
Wednesday, June 29, 2005