The Australian sportsbook is to list on the Australian Stock Exchange on July 12 as it seeks to raise A$70 million from the offering of about 40 per cent of the company to retail and institutional investors.
Sidney bookmakers Con and George Kafataris, whcih bought the Alice Springs-based sportsbook from Jupiters Casino in 2003 for A$46.5 million, will retain almost 60 per cent of the company.
Centrebet has a current client base of over 60,000 active customers across Australia and Europe. Sports betting makes up around 70 per cent of the company\’s annual wagering revenue, but poker is growing rapidly said Con Kafataris.
In its prospectus Centrebet forecast adjusted earnings before interest and tax of $14.6 million in 2006/07 and $8.5 million in 2005/06, compared to $6.9 million in 2004/05.
Elsewhere, according to The Times, PokerStars is close to appointing HSBC to advise it on an initial public offering worth up to £1.6 billion. The world’s second-largest internet poker company had previously worked with NM Rothschild on a possible trade sale, approaching PartyGaming, Sportingbet and 888 Holdings, but the high asking price is thought to have acted as a deterrent.
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