| Posted by: ian_go at July 17, 2006, 12:02 pm | | Topic: Antes in for Victor Chandler Forum: Winner Online |
BIDDERS are circling Victor Chandler Group, one of the world’s best-known betting firms, writes Matthew Goodman.
The company, run by Victor Chandler but started by his grandfather, is understood to have hired the corporate-finance firm Zeus Capital to evaluate the unsolicited approaches and advise on how to proceed.
The business, which analysts estimate is worth about £300m, is seen as an attractive target because it does not take bets from America, where internet sports betting is illegal.
It has a significant following in the Far East.
It built its reputation servicing high-rollers, but with the advent of its internet operations, which account for almost 80% of bets placed, has broadened to a wider client base.
Victor Chandler is expected to generate sales this year of £1.4 billion and reap a gross win (turnover less winnings) of £43.4m.
As well as its sports betting, it operates online casino and poker sites.
source : www.timesonline.co.uk
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