BetDirect valued; down by half since 2006 32Red purchase
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Rumors are that BetDirect finally has a cash value assigned to it. 18 months after purchasing it for 12.5 million pounds, it appears to be worth less than half that, at 6 million pounds.
At the end of last month, 32Red had announced that they were unable to correctly value BetDirect in anticipation of a sale, and told the London Stock Exchange, “The company expects that the half-yearly report will be published when there is greater clarity in relation to the sales process.â€
32Red has previously confirmed that they are shopping around for buyers, and though it has not confirmed the candidates, Boyle Sports continues to be mentioned by those in the know. The existence of a new price tag should help the sales process.
