Betfair deny Betdaq takeover

Betfair, the leading online betting exchange website on the internet, has denied that it plans to takeover rivals Betdaq, owned by Irish entrepreneur Dermot Desmond.

Following big speculation that something was in the pipeline after rumours of a meeting between top executives of the two companies, Betfair have stated that they do not plan to buy Betdaq.

"I can categorically deny that we intend buying Betdaq,” said Eoin Ryan, Betfair communications officer.

However, it is not the first time that Dermot Desmond’s Betdaq has been the focus of takeover talk, as last year Ladbrokes were reportedly interested in Desmond’s betting empire, which includes betting shops, racecourses and a casino in Dublin in addition to Betdaq.

Since its launch in 2000, Betfair has developed into the industry leader in betting exchanges, generating annual revenues of around £140 million.

Editor, - 2007-05-16 11:29:54

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