Betfair set float price

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Euler
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For those watching the share price an interim management statement is out next week.
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Euler
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Betfair interim statement released this morning: -

http://corporate.betfair.com/media/pres ... -2012.aspx
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Euler
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andyfuller
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With all this Australia stuff going on it is going to be interesting to see what happens with the share price in about 2 weeks when the Buy Back £50 million has all been used up. No more artificial propping up of the share price everyday.
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Euler
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I've been watching the price quite closely and it seems to be fairly well correlated to the ups and downs in the FTSE 250.

I think it's a complex picture. Aus is a negative but not massive, it's the implication that somebody has won the argument against exchanges that's the issue. That will quite likely have an impact elsewhere.

But they are obviously very keen to chase margins which will prop up the results. Chasing margins though can only last for so long. Your top line needs to grow as well. It's a busy sporting year as well, so that will prop things up short term.
andyfuller
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It looks like the share buy back scheme could be finished. There has been no buy back now for two days which I don't recall happening to date.

Seems to be in a bit of a downwards trend at the moment, I wouldn't be going long any time soon.
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Euler
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BETFAIR AWARDED ONLINE GAMBLING LICENCE IN GERMAN STATE OF SCHLESWIG HOLSTEIN

BETFAIR GROUP ("Betfair") has today been awarded a licence to operate its betting exchange in the German state of Schleswig Holstein.

Following the receipt of the licence for sports betting, Betfair intends to pay 20% of Gross Gaming Revenue derived from Germany to Schleswig Holstein. Based on current revenue run-rates it is envisaged that this payment will reduce Core Betfair's gross margin by approximately one percentage point.

Commenting on today's news, Betfair's Chief Legal and Regulatory Affairs Officer, Martin Cruddace, said:

"We are delighted to have been awarded one of the first three licences to operate in Schleswig Holstein. We look forward to making a significant and sustainable contribution to the newly formed market there, offering consumers innovative products in a safe and responsible betting environment.

"Schleswig Holstein's government should be applauded for its efforts to implement a regulatory regime that will provide security for consumers, transparency for regulators and the freedom to compete for EU operators."
DaveDangelo
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??? :)
Last edited by DaveDangelo on Tue Apr 16, 2013 5:05 pm, edited 1 time in total.
andyfuller
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andyfuller wrote:It looks like the share buy back scheme could be finished. There has been no buy back now for two days which I don't recall happening to date.

Seems to be in a bit of a downwards trend at the moment, I wouldn't be going long any time soon.
The buy back looks to be definitely over, no buy back at all so far this month.

The down trend is carrying on a pace now with them not artificially propping up the share price, down roughly 6% since it ended. Currently back to levels last seen in November 2011.

Legal and General have been selling off their stake recently as well to now holding under 3% of shares. Should have been a nice profit for them having bought in around the 600p mark.

I don't see any reason for the current slide to stop in the near future.
andyfuller
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andyfuller wrote:The down trend is carrying on a pace now with them not artificially propping up the share price, down roughly 6% since it ended. Currently back to levels last seen in November 2011.
It really is the gift that keeps giving, another day and another low hit. Back to levels last seen at the start of October 2011 now with today's close at 724p having hit 719p at one stage today!

Down a little over 10% so far this month, all of the 2012 gains have been wiped out and I see no reason for the slide to stop, does anyone else?
Tobedotty
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I read in City AM on friday that some crazy broker (I forget the name) has decided to give out a "buy" rating for betfair, claiming that the new sportsbook will lead to a change in the business and has a set a target price of 1100p :lol:
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Euler
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Looks like California has killed exchange betting for at least another year: -

http://www.drf.com/news/toc-tables-exch ... -next-year
andyfuller
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Just catching up on some stuff and noticed a very unusual buy order was put through right at the close lifting the price from 750p to close at 786p due to a buy order for 185,863 shares which is around £1.5m

Someone know something about the upcoming results?
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Euler
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FY12 Results Announcement

http://corporate.betfair.com/media/pres ... -2012.aspx

29/06/2012

‘A year of building momentum leaves us well placed for future growth’

Betfair (LSE:BET), the world’s biggest betting community and one of the world’s leading online betting and gaming operators, today announces its audited results for the 12 months ended 30 April 2012.

Financial highlights
Core Betfair3 revenue growth of 10% in H2 results in full year revenue up 6% to £349.5 million
Core Betfair adjusted EBITDA up 15% to £92.1 million
Core Betfair adjusted EBITDA margin up 2.1ppts to 26.4%
Group underlying earnings per share up 21% to 41.1 pence per share 2
Final dividend up 19% to 7.0 pence per share to give a full year dividend of 10.2 pence per share
Completed £50 million share buyback in the year

Operational highlights
Good exchange performance: Non-risk sports revenue up 11% in FY12
Mobile driving growth: 44 million bets (up 122%) and £22.7 million of revenue (up 97%)
Technology re-architecture and data centre consolidation completed allowing focus on new products
Next generation sports products launched, including ‘fixed odds’ bets, which will drive future growth
Strong current trading: Core Betfair revenue up 18% in the last 8 weeks

Commenting on the results, Stephen Morana, Betfair’s Interim Chief Executive Officer, said:

“We have delivered double-digit net gaming revenue growth in Core Betfair in each of the last three quarters and a healthy increase in profits. We have also started to deliver on our strategic objectives, including the launch of important new products that will drive future growth.

“Our unique Betting Exchange has continued to be the main driver of growth this year, with contributions from all major sports. Betfair has achieved many new highs, with records set in most of the major sporting events including the Champions League final, Cheltenham festival, Wimbledon, US Masters and Indian Premier League. The Exchange has continued to deliver market leading odds and this has been the focus of our marketing message in recent months.

“Mobile betting has been a key feature of the year for the industry and our substantial investment in the channel has given us a clear product advantage. The increasing penetration of smartphones and the convenience of the channel for customers have led to strong growth in mobile usage and revenues. In April alone, customers placed over 6 million mobile bets and almost 50% of UK & Ireland actives used the channel. We are making further enhancements to our mobile exchange betting product and have recently broadened our offering to include sports multiples and casino games on mobile.

“We have now completed the major re-architecture of our technology platform, which allows the introduction of new customer facing products and has enabled substantial improvements to our website. Most recently, we have commenced the rollout of our next generation sports products, which integrate our risk product with the Exchange to create a one-stop shop for sports betting.

“FY13 has started well, with Core Betfair revenue up 18% in the first 8 weeks against the prior year, driven by the European Championships and a return to historical margin levels in risk products, as well as the continued success of our value led marketing campaign and further mobile growth. New products and the opening up of new geographies leave us well placed for future growth. I am pleased to have had the opportunity to lead the business in this interim period and would like to thank all employees for their support. We look forward to Breon joining us on 1 August.”

1.Excluding exceptional items and equity settled share-based payments
2.Underlying figures are stated after making a number of adjustments in order to aid comparability between periods. These adjustments involve the exclusion, where relevant, of: the revenue and EBITDA from the High rollers segment; exceptional items; equity settled share-based payments; profit on sale of financial asset; net foreign exchange gain; and the associated tax effect of these adjustments.
3.Core Betfair excludes Betfair US, LMAX and Betfair Australia
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Euler
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