Directors hoping for £60 million offers

The online gaming firm Betgenius has hired Arbuthnot Securities investment bank to undertake a strategic review of their business, with their eyes firmly fixed on a £60 million sale, according to a report in Business Sale Report and other UK business media sources.

Betgenius offers betting services covering more than 15,000 betting markets a week, including odds fixtures and results from over 50 different sports in more than 90 countries. Betgenius is a provider of technological and data-driven solutions to the sports betting industry.

M.D. Michael Hornung and the other board members are the major shareholders in the business, which runs a site which enables punters to compare odds as well as providing services to bookmakers. According to Companies House filings, the managing director Michael Hornung is the single biggest shareholder. Alistair Flutter, the business development director also holds a large stake, as do fellow directors David Walker and Mark Locke.

Betgenius comprises a number of divisions; pre-eminent among them being Bestbetting – the comparison site that allows punters to check odds on sports events from about 60 different bookmakers to ensure they get the best value. As well as its own site, Betgenius also offers the service to business partners under different brands, in “white label” arrangements.
Connextra is another key element in operations that allows bookies to refresh their online advertisements automatically with live, real-time odds, whilst Margin Manager enables odds-setters to calculate risk and to react more swiftly to price movements at rivals.

According to other reports, Sporting Index, the spread-betting firm that is increasingly providing services to bookmakers, could soon be sold. Its owner, Hg Capital, has reportedly hired advisers to explore the possibilities of selling.

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