Mark Blandford, Managing Director NetBet (U.K.) PLC, recently gave IGN an update on news from their Alderney-based sportsbook. "We're now about to begin full scale beta testing of our US sports software," he said.
Other news within the Company is that their European Sports division is continuing to progress very well. They have now added online credit card processing.
They expect to soon make a formal announcement of the date that the Company (NetBet (U.K.) PLC is going to make a Initial Public Offer. This is expected to occur with the company's flotation on OFEX. OFEX if you are not familiar is the junior London Stock Market, similar to NASDAQ. They expect to go out on a projected year two PE ratio of about 6.5.
"The funding we are seeking to raise (approximately $2.5 million max) is to be primarily used for marketing and further software development," continued Blandford. "We are now convinced that a huge opportunity exists for us at present due to the fact that US customers are keen to deal with bookmakers from a secure fully regulated location which negates many of the problems the US sports offshore industry has been blighted with during its development."
Stay tuned to IGN for further news of this public offering of a UK-based sportsbook.