Betfair Appoints Advisers to a Potential Float
British betting exchange Betfair has appointed Morgan Stanley and Goldman Sachs as financial advisers to a potential float on the London Stock Exchange. The company, which has had no comment for the media since the banks' appointment was revealed on Saturday, had previously stated that no float would take place before the first quarter of 2006. A float could give the company a value of an estimate £800 million to £1 billion.
Jackpotjoy.com Considering Float
Jackpotjoy.com, an online gaming company that provides bingo and instant-win-type games, is reportedly in the final stages of reviewing potential advisers to a £100 million float on the Alternative Investment Market of the London Stock Exchange. The Netherlands Antilles-based provider has over 500,000 players and pays out over £20 million per month in winnings. A company spokesman stated that although a float is the preferred option, a sale to a larger gaming company has not been ruled out.
Empire Goes into Acquisition Mode
Empire Online, which last month raised $33 million through a float on the Alternative Investment Market of the London Stock Exchange, has appointed games and leisure analyst Andrew Burnett as a consultant for mergers and acquisitions. "Following our successful IPO, we are rapidly rolling out our operations throughout Europe and will also consider making strategic acquisitions," CEO Noam Lanir explained. "We intend to play a leading role in the anticipated consolidation and we are looking to Andrew Burnett to spearhead this for us, working closely with our existing financial advisers, Numis."
Sharp Increase for Sportswinbet Plc
AFX reports that Sportswinbet Plc (SWB.L) is not aware of any reason for the sharp increase in its share price other than the progress being made toward the incorporation and operation of its Alderney-based online gambling subsidiary. The company raised £3 million in June 2005 through a placing on the Alternative Investment Market of the London Stock Exchange. Its share price was a little over 60p at the time of the float and has risen to 135p. Sportswinbet has acquired the necessary hardware and software to operate an online gambling site and has applied to the Alderney Gambling Control Commission for an I-gaming license.
Reports Released
Stanley Leisure Organization Plc's (SLY.L) annual profit fell by 4 percent to £40.1 million for the year ended May 1, 2005, due primarily to unfavorable sporting results at its recently sold Stanleybet operations. Still, trading at the group's casinos did well, and overall group turnover improved by 25 percent to £2.1 billion compared to the previous year. Earning per share rose 29 percent to 20.1p, and the final dividend per share rose 11 percent to 7.5p.
Stanley Leisure Organization Plc - Annual Report