Thursday 20th May 2004 Coral Dismisses Stock Market ‘Speculation’
Coral has spoken out to deny the claims which appeared in several newspapers earlier this week, that it is about to float its shares on the stock market, branding them “pure speculation”. The company, which is known outside the UK as Eurobet and provides online gaming to people from over a hundred countries around the world, dismissed the reports which appeared in the Observer and Scotsman newspapers on Monday.
The Observer claimed that a float could value the business at £1.3bn, which would present handsome returns for the firm's venture capitalist owners, who bought the business for £860m nearly two years ago.
The group, which was founded in 1926, owns online casinos and poker and two greyhound stadiums in addition to its chain of betting shops.
Source: OnlineCasinoNews
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