Betfair, the internet betting exchange, is to list on the London Stock Exchange in a bid to build its international operations.
The firm, which cuts out bookmakers by allowing punters to bet against each other, highlights Europe, Australia, India, China and the US as growth opportunities.
It has been marketing heavily this year as it looks to grow revenues in the UK. It launched a TV and online campaign in August to position the brand as the ’world’s biggest betting community’.
It has also sought to align itself with football fans by signing sponsorship deals with clubs Manchester United and Barcelona.
David Yu, CEO of Betfair, said in a statement, “We’ve delivered sustained revenue growth and continued profitability, and this success, along with our debt-free balance sheet, underpins our confidence to continue investing in the many opportunities we see before us for the long-term success of the business.”
This story first appeared on marketingweek.co.uk