| Top > News > 2006 > June > 6 Jun 2006 |
Online Casino Company Center Bet Hoping for IPO |
| Australian online casino sports operator and gambling firm, Center Bet is planning on offering an IPO in London. The online casino company hopes to raise $53 million from the move. Australian based Center Bet, an online casino and sports betting company, has announced its intentions to launch an IPO in London on the 12th of June. The online casino companies intends to raise up to $53 million from this entrance into the stock markets. The stock will be offered at a fixed price of $2 each and a total 35.11 shares will be presented by the online casino company in its IPO, representing 40% of the expanded share capital base. The online casino company issued a statement in which it said that the money raised from the IPO would be used to cover existing debt and to pursue further growth opportunities. The online casino company also wishes to attract new talent while developing their existing talent from within. The online casino industry is greatly dynamic and companies often have to restructure and redirect in order to stay afloat. Centrebet has 60,000 active online casino players across Australia and Europe. The total global interactive wagering and gaming revenue is expected to reach $25.2 billion by 2010, growing at a compounded annual growth of 14.1%. Australia has a record high incidence of online casino wagering – a report revealed that over 40% of Australian adults participate is some form of gambling. |
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