GAMBLING NEWS
Betfair are discussing public float of the company
Sep 4, 2009
Since the government in the United States changed more and more positive winds are flowing within the US parliament and rumors are spread that the UIGEA might be lifted. The Unlawful Internet Gaming Enforcement Act that was passed in the fall of 2006 might actually be lifted and shredded by next year according to rumors in the online gambling industry. Many companies are interested in the US market and are willing to invest great sums to have a piece of the market and Betfair is certainly one of those companies.
Betfair that are the largest online company working with trading bets between the players are starting a discussion of Floating Betfair to raise money for a future US expansion. Betfair has already talked to several banks and if the ban on the US market is lifted the plans are to raise 2.5 billion dollars for the expansion of the full gambling portal into the US market.
The Betfair gambling portal that offers their customers everything they mght be interested in such as bingo, casino, odds trading and poker have a great position on the global market and is one of the largest online gambling companies. Expanding in to the US market would strengthen the brand and if Betfair becomes publicly listed it will be a good investment for the shareholders.
The UIGEA that was passed during the bush administration has put a bit of a hold on the gambling market all over the world for the past 3 years. By opening up the US market the gambling portals has a big market to target with lots of revenues coming in and expansion of online gaming industry will probably raise fast.
