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float, float, float, float.....

Betfair have hired a Morgan Stanley director as head of strategy as the IPO gets closer. For them, the best thing that can happen this year is a World Cup with all the favourites winning, bookies taking a hiding and Betfair just laughing all the way to the bank. But can they have all the prospectus documents ready in time for a float this year, if they wait that long? This isn't the first float-related hire they've had, they have been making them since 2005 and the media still haven't tired of predicting when it will happen. Just get it over with....

Betfair IPO moves closer with Morgan Stanley director hire

Sportingbet are stepping up to the London Stock Exchange (LSE) from the Alternative Index Market (AIM) next month, a move showing they really have graduated to mixing it with the big boys. Their financial reports are quite interesting. Unlike the British retail bookies who were moaning about all the favourites winning and no draws in the early part of the Premier League season, Sportingbet's turnover on the big four football leagues is just 11%. That is brilliant diversification which makes them barely blink when results in one league go the wrong way for a while. A very enviable position to be in.

Sportingbet to cancel AIM shares ahead of LSE listing

UK bookies' share prices all lifted after Cheltenham, probably dropped a little after the National, they'll all be hoping for a big result at the World Cup.

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The Lexus Melbourne Cup
Group 1, Handicap, 3200m
AUD 7,750,000
Flemington 1500 local, 0400 GMT
Broadcasters - Network 10 (AUS), Racing.com (worldwide), SkySportsRacing (UK)


1. Cross Counter
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Jockey - William Buick
Breeding - Teofilo - Waitress
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