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Betfair set float price

Postby Ferru123 » Tue Dec 13, 2011 10:29 pm

Possibly, although share price rises today may have been due to rumours of QE3, which have been dashed by Ben Bernanke this evening.

Jeff

Euler wrote:Based on the fact the press release has already been written today and the share price rose, I'd predict a favourable response by the city when the announcement officially comes out tomorrow. ;)

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Postby andyfuller » Tue Dec 13, 2011 10:33 pm

Yes Peter, I kept an eye on the share price all day today. One of the best days it has had for good while from memory, backed to around a 5 month high roughly.

Doesn't it fill you with a warm feeling knowing they are robbing us blind again tomorrow at midday.

Jeff it was rising from the opening of the markets, before the QE rumours, I would guess it was much more to do with tomorrow than QE, BWIN gained only 1.37% today to BF's 3.57%

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Postby Euler » Wed Dec 14, 2011 9:01 am

Financial highlights

· Core Betfair revenue of £170.3m, with 12% year-on year growth in Q2 2

· Core Betfair Adjusted EBITDA up 26% to £44.6m 1, 2

· Group underlying earnings per share up 43% to 19.5 pence 3

· Interim dividend proposed of 3.2p pence per share

· £23.7m returned in share buyback to date

Operational highlights

· Strong Exchange performance: Q2 non-risk revenue up 20% year-on-year

· New mobile products drive growth: 16.2m bets (up 103%) and £9.1m of revenue (up 88%) in H1

· Encouraging current trading: Core Betfair revenue up 13% in Q3 to date

· New site to be launched shortly: much improved speed, reliability and search functionality

Management update

· Breon Corcoran announced as new CEO

· Stephen Morana to be Interim CEO

· Gerald Corbett appointed as Deputy Chairman and will become Chairman in Q1 2012

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Postby Euler » Wed Dec 14, 2011 9:06 am


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Postby Euler » Wed Dec 14, 2011 10:48 am

I'm tweeting updates from the call:-

http://www.twitter.com/betangel/

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Postby Euler » Wed Dec 14, 2011 11:27 am

Morana - Premium charge increase will deliver 4% of revenue growth for the year with a nine month contribution.

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Postby CaerMyrddin » Wed Dec 14, 2011 11:45 am

Curiously, you'd say they won't grow due to this increase in the next year, it should have the opposite impact.

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Postby andyfuller » Wed Dec 14, 2011 11:59 am

Seemed like they were happy with the new PC. I guess people can expect some more tweaking of it in the future.

It had little impact in terms of behaviour changes with regards to the people it affected. I missed the slide but I think it said that it effected less than the 500 they said it would?

Only a few it sounded like had stopped using Betfair because of it. They can add me to that few in a few months.

I would guess the £250,000 will get revised down, surely they won't up from 60%. But looks like all the negative stuff from it has bugger all impact. Amount of bets was well up, in particular horse racing but I guess that wouldn't be hard when compared to last year given the distinct lack of racing there was last winter.

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Postby Euler » Wed Dec 14, 2011 12:20 pm

andyfuller wrote:Only a few it sounded like had stopped using Betfair because of it. They can add me to that few in a few months.


I thought it would have had a bigger effect on the bottom line given the picture they painted of all those freeloaders they said were unfairly benefitting from it.

Betfair have earned less commission from me at 60% than they did at 20%. Nuff said.

I think they should have targetted it better. Bet Angel users by and large are adding liquidity and structure to the market, not unfairly benefitting from it.

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Postby SilentDave » Wed Dec 14, 2011 12:37 pm

Betfair have fallen in to the trap of thinking that increasing their percentage to 60% will increase the total premium charge take but as with other forms of taxation it's never that simple.
As we see here it drives people away or they look for ways round it.

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