19-09-2007 Portlandbet makes disappointing debut on the Australian Stock Exchange

The parent companty Marginbet Limited closed its first day of trading down 15% from the IPO price of A$0.20 per share.

Chief Executive Stephen Hobbs said "We believe there are significant opportunities for growth in the internet gambling space, particularly on an international level."

"In the coming year we plan to introduce a new sports betting medium known as spread betting or index betting. This type of betting is very popular in the UK and Europe and we are hopeful that it will provide a platform for us to further grow our client base both in Australia and overseas," he added.