Betcorp London Listing Confirmed
Published: Friday, September 02, 2005 Online-Casinos.com
BETCORP LONDON LISTING CONFIRMED
AIM listing likely to raise funds for expansion
Earlier Online-Casinos.com & InfoPowa reports that the Australian public company Betcorp was considering a London IPO have been confirmed this week by the company, which has appointed KBC Peel Hunt as adviser.
Betcorp, formerly called Consolidated Gaming Corporation, said that it had decided to investigate a dual listing because London had "...become the leading market for online gaming companies, which have attracted substantial institutional investment".
The firm has a market capitalisation of less than GBP 20 million and may use an AIM listing to raise funds for expansion. It is expected to float at the end of this year or early next. Analysts believe it could eventually drop its Australian listing altogether.
Betcorp websites offer sports betting, casino and poker, and include BetWWTS.com, BetCasino.com, Cybersportsbook.com and BetBet.com. The companies recently added skill games to their portfolios in a deal with supplier GameAccount.
The group is licensed in Antigua and is currently undergoing a business turnaround led by two British executives: Colin Walker, chief executive and a former director of Ladbrokes, and David Hudd, non-executive chairman who founded Vardon, a quoted UK leisure group.
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