Victor Chandler Group On The Selling Block?
Published: Tuesday, July 18, 2006 Online-Casinos.com
VICTOR CHANDLER GROUP ON THE SELLING BLOCK?
Third generation UK betting group could be up for grabs
One of the UK's most respected news journals, The Times reported this week that potential buyers are looking over the Victor Chandler Group, one of the world's best-known betting firms.
The company, run by Victor Chandler but started by his grandfather, is understood to have hired the corporate-finance firm Zeus Capital to evaluate the unsolicited approaches and advise on how to proceed.
The land and online business, which analysts estimate is worth about GBP 300 million, is seen as an attractive target because it does not take bets from America, where internet sports betting is illegal. It has a significant following in the Far East.
Victor Chandler group built its reputation servicing high-rollers, but with the advent of its internet operations, which currently account for almost 80 percent of bets placed, it has broadened to a wider client base. Sales this year are expected to be in the range GBP 1.4 billion, reaping a gross win (turnover less winnings) of GBP 43.4 million.
The group operates sports betting, online casino and poker sites.
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