Operating under the Betfair brand, the new organisation, which forms between 15-20 percent of UK online gambling spend, will benefit from a significant cash reserve to fund expansion in the Far East with the objective of becoming a major global player in time for the World Cup 2002 in Japan and South Korea.
Edward Wray, CEO of Betfair, said: “The combined company is incredibly strong, and the clear leader in exchange betting. By joining forces, we can focus our effort on growing the combined businesses. This merger will ensure that we are in the best position to drive forward this expansion, both domestically and globally.”
