News & Updates - Tuesday, February 28, 2006
Betfair Valued At $2.6B By Softbank
Privately-owned Betfair, a six-year old online betting exchange, is now valued at £1.5B ($2.6B), according to news coming out of London today.
Softbank, the Japanese investment company, has agreed to buy up to 23% of online onling gambling platform, the Sporting Exchange Ltd., the company behind Betfair, according to a Reuters report today.
Betfair enables gamblers to make or take bets on sporting and racing events. It charges a commission on each wager.
Read - Betfair’s valuation up with Softbank investment (the a:c euro)
Read - Softbank to buy stake in Sporting Exchange (Reuters)
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