Betfair Shares to Hit LSE Tomorrow

As iGamingBusiness has reported, the shares of online gambling and sportsbook giant Betfair are to reach the main market of the London Stock Exchange on 27th October. The company’s initial public offering means they will sell 15% of their total equity for £13 per unit.

Betfair owners Ed Wray and Andrew Black aim to sell 16 million units, gaining £1.4 billion, which would provide for reinforcing the company’s “long-term relationships with customers, regulators and business partners around the world.”

As opposed to most of the competition, Betfair may still boast a rise in its weekly traffic and a 29% annual increase in underlying earnings. In this respect, the optimism of company CEO David Yu is quite understandable: “We believe we have many opportunities to grow our leading position in the online sportsbetting and gaming market and we are extremely pleased that new investors share our enthusiasm for the future of the business. We are grateful for the support of all our shareholders, old and new, and will work hard to generate further value for all our stakeholders.”