Betcorp targets World Cup for betting growth
Published: 11:01 Thursday 20 April 2006
By: Cliff Feltham,
Newly listed internet betting site Betcorp is aiming to boost its growing sports business by offering punters the chance to bet on this summer's World Cup.
Until now the company has concentrated on US sporting fixtures and poker and casino betting. Strong growth in all these areas helped it achieve record first quarter profits of $3.6 million (£2 million), an increase of 140%.
'The company is in good shape and we are moving in the right direction,' chief executive Colin Walker told Citywire.
The shares have drifted back since trading began on AIM in March at 271p but today moved 15p higher at 261p.
Betcorp is incorporated in Australia, where its shares are also listed, and holds a gaming licence in Antigua and a bookmaker's permit in the UK.
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