September 17, 2021

Betfair risks are revealed in prospectus

first_img Betfair risks are revealed in prospectus Tags: NULL whatsapp Show Comments ▼ Share Wednesday 27 October 2010 8:40 pm whatsapp BETFAIR yesterday released the prospectus that helped it float for almost £1.4bn earlier this month.The document includes 15 pages of risk factors that could derail the business, including attempts by EU member states to prevent online betting operators and clarification of online gaming regulation which could hit Betfair’s position as an exchange, rather than a bookmaker.It also raised concerns about the image of the industry as a whole, in light of sporting corruption allegations, such as that surrounding the Pakistan cricket team.Another concern was the illegal use of the site for money laundering by either its employees or customers or a scandal involving underage gambling, which could undermine the firm’s reputation.Its prospectus also admitted chief executive David Yu had been “absent from work for a brief period in March 2010 with a cardiological complaint,” although it insisted he is still fit for duty.Betfair priced its initial public offering at 1,300p per share – valuing the company at £1.4bn. The world’s largest betting website said it had sold 16.2m shares in the offering, excluding an overallotment option, or 15.2 per cent of the company. It had offered the shares at 1,100-1,400p.It also launched a majority-owned trading service, LMAX, which opened for business this week. It offers contracts for difference on US and European share indices, commodities and UK gilts. The platform adopts its parent’s model as a peer-to-peer exchange rather than a traditional broker. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com KCS-content last_img

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