Says its CEO Breon Corcoran
Betfair attracting more customers through diversity
2013-06-27
Reading time 37 seg
(UK).- Betfair Chief Executive Breon Corcoran said the betting exchange was attracting more customers than ever after broadening activities beyond its core betting exchange. Discussing Betfair's current progress, Corcoran added that he remained 'pleased' with the company's operational trends, which he says gives 'confidence' that it is on the path to delivering a higher quality, sustainable business.
"We have made excellent progress on all of our key strategic aims and the business is in a far stronger position to generate future growth than it was at the start of the year," he added.
Betfair recently rejected a us$ 1.5 billion takeover bid last month from private equity firm CVC Capital Partners. CVC had reportedly wanted Betfair to refocus on its betting exchange but Corcoran said the expansion in more traditional fixed-odds betting was attracting more customers.
Betfair reported underlying profit of us$ 112.7 million in the year to the end of April, on revenues of us$ 595.1 million.
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