Betex to float on the AIM within the next few weeks

profile image of bmr

Betex, which operates an Asian handicap betting website attracting bettors from the European, Asian and Middle Eastern markets, in May, listed its shares on the lightly regulated Ofex market raising £1m.

The gaming company now aims to raise new funds with the listing on the AIM, in a move that should see its market value more than double at £25m.

Betex has recently won a contract to operate the state lottery in the Guizhou province in south-west China, for which it will receive a fee of 2 per cent of the lottery\’s turnover.

The company, which is negotiating further lottery contracts in China, plans to invest £1.6m in upgrading the terminals and software, and hopes to launch new games increasing the frequency of draws in from the present five a day to one every five minutes.