Investors May Remove Betfair from the Market

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Betfair

CVC Capital Partners is considering a bid gambling company, Betfiar which would mean the company delisting from the stock market.

Betfair, CVC and some other large shareholders of the gambling company confirmed this and that exploratory talks for an acquisition are ongoing. Whether it actually comes to a buyout, is not yet clear.

A decision on whether to launch a bid for the troubled Betfair will be made no later than 13th May.

The UK listed gambling company is facing declining revenues and a declining stock market performance. Late last year, the company decided to withdraw from Germany, Scandinavia and Eastern Europe. Local regulations and tax regimes are taking their toll on the company.

In late December a new CEO joined the organization to streamline operations, to end non-core activities and to bring more focus in the geographical operating areas.

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