It has today been revealed that brothers Fred and Pete Done have sold their BetFred gambling empire for some £27.2 million. The business was the world's largest independent bookmaker and while the deal was clinched towards the end of 2008 details are only now beginning to emerge. Originally licensed in the Netherlands Antilles the business is now in regulated via Gibraltar, a common location for many online gambling businesses.
The company’s online operations made £2.3 million in 2006 and £3.3 million in 2007 although figures for 2008 have not yet been released. There is some mystery about the buyer as small print in the sale agreement has prohibited the brothers from disclosing the name of the other party as yet. The business itself, which offers online casino and poker services as well as traditional online and off-line sportsbook services is perhaps one of the best-known names in the industry and was credited with taking on the "big players".
It is interesting to see that there is still substantial money about even in these dark times when corporate finance is near non-existent. While there is some speculation about the new owners of the business there is no doubt that the names will be revealed in due course as the new owners look to take the business onwards and upwards.
It has today been revealed that brothers Fred and Pete Done have sold their BetFred gambling empire for some £27.2 million. The business was the world's largest independent bookmaker and while the deal was clinched towards the end of 2008 details are only now beginning to emerge. Originally licensed in the Netherlands Antilles the business is now in regulated via Gibraltar, a common location for many online gambling businesses.