In my view, results are a little disappointing. Major decision, is to dump the piece of junk that was LMAX, selling their share, for £2.4m.
Losses from this venture, are anywhere between £25-£35 million - what were they thinking ?
Its clear Betfair need market penetration in overseas markets, and regularatory issues, make it hard.
Betfair has reserves, but recognises it needs to slim down, and become more market/customer focussed.
I am selling 2/3rd of my Betfair shares -- I dont see how they can move, in the next yr or so, without new markets opening up.
Overnight, have re-thought this, and dont like some USA contracts, being given to Sportech. Have sold ALL my Betfair shares.
Betfair share price, went as high as £7.70 or so, yesterday, but have fallen back today .. £7.48, pleased I got out.