Betfair eyes up filipino

24/08/2010 | By More

Having made its first major move into the Asian gaming market last year with an agreement to provide IT solutions to Interactive Entertainment Solutions Technologies (IEST), operator of a betting exchange in the Philippines, Betfair has now been offered a 40 per cent stake in IEST worth US$15m by Philippines-based Diversified Financial Network Inc (DFNN).

DFNN notified the Philippine Stock Exchange this week that IEST and Betfair had defined an option agreement for Betfair to acquire a 40 per cent stake in the company at a value of $15m. DFNN told the Philippine Stock Exchange that Betfair’s option to acquire the stake is valid until August 19th 2011 and may be exercised at any time before expiry.

IEST is a unit of Pacific Gaming Investments Pte Ltd, owned by Diversified Financial Network Inc – a leading IT solutions provider in the Philippines.

Tags: , ,

Category: Betfair

About the Author ()

I left a good job in the consumer technology industry to go a trade on Betfair for a living way back in June 2000. I've been here ever since pushing very boundaries of what's possible on betting exchanges and loved every minute of it.

Comments are closed.

«
»
Hypersmash.com