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Paddy Power Weakens to Close at €24.825

Written by:
C Costigan
Published on:
Sep/27/2010

 

The Irish Times reported on Monday that bookmaker Paddy Power, which weakened throughout last week, dipped again, shedding 0.46 per cent to close at €24.825, although traders said it would not be surprising to see it improve that performance this week.

Elsewhere, Betfair, Europe’s biggest wagering exchange, reported its intentions for a £1.4bn float. 

Other bookies are betting on that not happening and they are offering odds on the UNDER £1.4bn float, based primarily on action coming in from savvy sports bettors.

CityAM reports that Betfair is not planning on raising new capital in the flotation but will put a minimum of 10 per cent of the company on the market through the sale of shares of existing stakeholders.

Aaron Goldstein, Gambling911.com

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