Centrebet Looks to Raise $70 Million

AUSTRALIA – As reported by the Age: Online wagering and gaming company Centrebet is placing its bets on a new generation of sport and poker lovers as it looks to raise $70 million and list on the stock market.

The company, owned by Sydneys wealthy Kafataris family, expects to list on the Australian Stock Exchange on July 12, after offering 35.11 million shares at $2.00 each to the public.

The family bought the Alice Springs based-Centrebet from Jupiters Casino in 2003 for $46.5 million.

Centrebet expects to have a market capitalisation of $174 million upon listing.

…Centrebet has a current client base of more than 60,000 active customers across Australia and Europ