
Betbrokers PLC
15 November 2006
Press Release 15 November 2006
Betbrokers plc
('Betbrokers' or 'the Company')
Betbrokers enters Asian market through agreement with Samvo
Betbrokers plc, (AIM: BETB), the UK's first retail and wholesale brokerage and
clearing house for the sports betting industry, is pleased to announce that it
has signed a counterparty agreement with Samvo Entertainment Limited, ('Samvo'),
one of the largest bookmakers in Asia.
Under the agreement, Betbrokers will be able to place bets with Samvo on behalf
of its retail and wholesale clients. Additionally, Samvo will have access to
Betbrokers' services, and will therefore be able to lay bets with other
counterparties confidentially in order to square their book and effectively
manage risk. The agreement marks Betbrokers' entry into the Asian market,
alongside a company with a large and loyal customer base who are well respected
in Asia for their innovation and professionalism.
Samvo Group boasts over 30 years' experience in the gaming and betting industry
and was one of the first Asian-backed online betting companies to obtain
multiple gaming and betting licences from various European and Asian
governments. Samvo operates the sportsbook betting websites www.samvo.com and,
for UK customers, www.samvo.co.uk. Samvo primarily specialises in soccer
betting.
Betbrokers has counterparty agreements with the major bookmakers and betting
exchanges in the UK; this widening network of counterparties supports
Betbrokers' aim to provide the most competitive prices to both its wholesale and
retail clients.
Since the Company's admission to AIM on 1 November 2006, the number of retail
clients has increased by over 10% and the number of wholesale counterparties has
risen from over 70 to over 100.
Commenting on the agreement, Wayne Lochner, Chairman and Chief Executive of
Betbrokers, said: 'This counterparty agreement with Samvo will extend
Betbrokers' geographical reach, giving the Company access to the important Asian
gaming market. This is a significant agreement for Betbrokers and is another
excellent endorsement from an industry counterparty.'
Wayne Openshaw, Marketing Director of Samvo Entertainment Ltd, commented: '
Samvo are delighted to reach an accord with Betbrokers and are looking forward
to a mutually beneficial relationship. Such agreements strengthen our
foundations in this country and provide added options and security to our
business.'
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For further information, please contact:
Betbrokers plc
Wayne Lochner, Chairman and Chief Executive Tel: +44 (0) 8448552100
wlochner@betbrokers.com www.betbrokers.com
Media enquiries:
Abchurch Communications
Chris Lane / Franziska Bohnke Tel: +44 (0) 20 7398 7700
franziska.boehnke@abchurch-group.com www.abchurch-group.com
Notes to Editors
Betbrokers is the UK's first independent betting brokerage. The Company
facilitates transactional business between both retail gamblers and wholesale
clients. The Company's operations were formally launched in 2005.
Betbrokers provides services, from its dedicated dealing room in London's Canary
Wharf, to two groups of participants within the gambling industry:
• The Company provides its retail customers with the advantage of best price
execution together with the ability to deal 'in size' in a majority of
sporting events. Retail customers will soon be able to access advanced
data-sales and trading analysis platforms, which feed from aggregated
internal price mechanisms.
• Betbrokers already has agreements with over 100 bookmakers, providing them
with the opportunity to take on additional bets from retail customers.
Importantly, the Company also offers bookmakers a facility to effectively
manage their risk exposure by hedging positions anomalously using Betbrokers
as an intermediary to deal with the other bookmakers.
Betbrokers floated on the AIM market of the London Stock Exchange in November
2006. Further information is available on the Company at: www.betbrokers.com
This information is provided by RNS
The company news service from the London Stock Exchange
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