Betfair set float price

[Euler]

For those watching the share price an interim management statement is out next week.

[Euler]

Betfair interim statement released this morning: -

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

[Euler]

Here is my reading of it.

http://www.betangel.com/blog_wp/2012/03 ... -on-users/

[andyfuller]

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.

[Euler]

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]

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.

[Euler]

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]

???

[andyfuller]

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]

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?