Bookmaker and online casino operator looks at £600m IPO
Betting shop and online gambling operator Bet Fred has signalled that it intends to explore the possibility of a £600 million IPO. The company founded by Lancashire born brothers Fred and Peter Done have hired NM Rothschild to explore the move.
Bet Fred is the UK’s fourth biggest bookmaker behind Ladbrokes, William Hill and Coral and was founded in 1967. Fred Done is the driving force behind the company – his face appears gawping out from every shop front and online banner that the company displays whilst touting himself as ‘The Bonus King’ whom some may say is the Richard Branson of Sports betting.
From humble beginnings the sports book entrepreneur has built an empire of over 670 shops opening an average of 75 a year and an online casino, poker room, bingo room and sport book. The company website states that it turns over in excess of 1.5 billion a year and employs 5,000 staff. The corporate site also confusingly says that it will launch internet operations ‘soon’…
The company was caught out last week when the DCMS announced its white list for off shore online gambling operations. The white list release from the DCMS stated that gambling entities in the Dutch Antilles would be unable to advertise in the UK after 1st September 2007. Bet Fred is based in the Dutch Antilles.
Editor, Jackpot.co.uk - 2007-08-13 13:02:54