Online Casino Operator Betfair Acts to Prepare for US Market

Betfair became the first online casino to offer a major listing in the UK since the recession with its planning of a $2.5 billion IPO.

Betfair, the online casino and Internet gambling company, is planning to make a $2.5 billion initial public offering that would give the operator capital to consolidate gaming operations and enter the US market when laws allow. Site owners are scheduled to meet with bankers to determine financial representation, if the decision is made to proceed.

The Telegraph reported that presumed US acceptance of online gambling regulation may lead to numerous deals and consolidations in the Internet casino world. The paper said Betfair experts think the US laws will change as early as next year.

Betfair hosts online casino games, poker, person-to-person sports betting, and financial market betting.

The report indicated Betfair may have such companies as Goldman Sachs, Morgan Stanley, and Rothschild compete for the hosting of the potential capital raising.

If Betfair holds the IPO, it can be expected that it will acquire other resources to allow it the most complete platforms to meet US regulatory requirements, as well as cater to the differing laws of US states.