Centrebet IPO Huge Success
CentreBet will become a publicly-traded company.
AUSTRALIA – As reported by The Age: "Online betting company Centrebet has closed its $70 million initial public offer (IPO) oversubscribed after strong interest from investors.
"The
CentreBet will become a publicly-traded company. online wagering and gaming company, which will trade as Centrebet International Ltd, had offered 35.111 million shares at $2 each.
"..'Centrebet's relatively high barriers to entry and the leveragability of its online business model serving a high growth sector were key attractions,' it said.
"The Alice Springs-based company, owned by Sydney's wealthy Kafataris family, expects to have a market capitalisation of $174 million upon its listing scheduled for July 12.
"Funds from the offer will provide an expansion platform for the family-run business, which started off as an on-course racing betting operation.
"Centrebet has a leading market position in Australia and Scandinavia with plans to enter selected new markets in Europe.
"…Centrebet has a current client base of more than 60,000 active customers across Australia and Europe.
"It said the interactive wagering and gaming sector is expected to grow by more than 19 per cent at a compound annual growth rate (CAGR) in Europe and approximately 10 per cent in Australia until 2010…."
Alice Springs NT 0871
Australia
| Centrebet Pty Ltd was founded in 1992. In 1996, and was the first licensed bookmaker in the Southern Hemisphere to offer online sports betting. In November 2003 Centrebet was purchased by the SportOdds Group. SportOdds is Australia's largest, privately owned sports betting company. SportOdds has licences in the Australian Capital Territory, Northern Territory, Western Australia and the United Kingdom, with its administration headquartered in Sydney. |