BetFred Could Go Public

BetFred, widely considered the United Kingdom's 4th largest bookmaker, has its eyes on floatation. BetFred has appointed NM Rothschild to review its strategic options, with a flotation seen as the best probable outcome.

The country's biggest independent chain - which has 700 outlets and recently opened in Edinburgh - was founded in Warrington by Fred Done 40 years ago.

Any stock market listing would be likely to value the business at around £600 million, analysts said.

Betfred boss Fred Done's talks over whether to float his bookie chain potentially gives the City another larger-than-life punter. In August 2004 he bet £1m with Victor Chandler (another chap to launch an eponymous bookmaking business) that Manchester United would finish above Chelsea in the Premier League. Victor collected.

---

Gambling911.com News Wire

Originally published August 14, 2007 10:50 am ET