Sport is made for betting

Ladbrokes have joined the list of UK firms avoiding setting up in France under the current unviable licensing structure. Several firms have simply decided not to waste their time and money in a market which will deliver nothing for several years, and only if/after the French government water down the current prohibitive licensing and taxation structure. The last straw for Ladbrokes was when the French govt decided on top of extortionate turnover tax and sports rights levies, they would also have to pay VAT as well. Unibet however, who have a similar model to Bwin, of taking vast numbers of low-stake bets, are pressing on. The Betfair IPO is off to a good start. Conditional trading has the shares trading at around £15.30, after the initial valuation of £13. Tomorrow is the acid test for them though, when they become available to the public. Betsson is going from strength to strength as live betting pushes their revenues higher. Bwin, Hills and Sportingbet have released similarly h...

After the long-awaited confirmation of the Betfair float, an eastern European operator has decided to follow suit. Czech betting agency Fortuna has announced plans to list on the Prague and Warsaw stock exchanges. The company's main territories are the Czech Republic, Slovakia, Hungary and Poland, with a heavy emphasis on retail. Czech Fortuna IPO planned by end-October Czech betting agency Fortuna plans to float shares on the Prague and Warsaw stock exchanges by the end of October, two sources with knowledge of the deal said on Friday. "The decision has been made this week. The firm's intention is to complete the listing by October," one of the sources said. The initial public offering (IPO) should be announced in the middle of next week, with a prospectus to follow in the coming weeks. . . Polish media reported in January that Fortuna, owned by Czech and Slovak financial group Penta Investments, planned to raise €100 million from an IPO. UniCredit a...