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IASBet for sale

Rumours have been rife in recent months and this article confirms it, IASBet, the Australian corporate bookmaking operation headed by Mark Read, is up for sale. Read must be about 60 now and probably feels the time is right to sit back and enjoy his money rather than stressing about the demands of shareholders. Ever since floating back in 1999 at $2, it's been a pretty lame stock, most recently trading around the 30c mark. He hopes to sell for $1 a share which is pretty ambitious in the current climate. I started my career in the betting industry and still own a small lump of shares. I'd be happy to get any more than the two cases of beer it has been worth for the past five years!

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