Advanced Forum Search -- Advanced Casino Search

A bet each way for the gaming sector
Message was posted: 09:59 Jul 12th, 2006

User: AussieAussieAussie Rank: Casino Gold: 2727CG Contributor rating: 5680 Status: Offline

Gambling news from http://www.heraldsun.news.com.au/ AUSTRALIA'S listed gaming sector gained one player and lost another yesterday as Centrebet began trading and Betcorp announced it would leave the local bourse. The listing of Centrebet, based in Alice Springs and owned by the wealthy Kafataris family, failed to excite investors. It debuted on the Australian Stock Exchange at $2.03, but closed the day at its issue price of $2. The internet gaming and wagering group's initial public offer closed oversubscribed last month and raised $70 million by issuing 35.111 million shares at $2. Managing director Con Kafataris said he was "pleased" with the first day of trading and the company could now expand its markets and customer base, especially in Europe. The company has a leading market position in Australia and Scandinavia and Mr Kafataris said it would now enter selected new European markets. Centrebet, with a market capitalisation of about $174 million, won 5900 new customers in June due to increased activity surrounding the World Cup. Meanwhile dual-listed internet gaming group Betcorp said it would drop its ASX listing on October 31 in favour of making Britain its primary listing. Betcorp, which listed on the ASX in 1999, said its listing on London's Alternative Investment Market would stimulate greater interest from investors as it was "the global centre of institutional interest in the online gaming sector". The company said: "There is insufficient liquidity in the company's shares to support two stock exchange listings." About 47 per cent of Betcorp's issued shares are held outside Australia.