ExtraBet Sale Rumoured

Rumours have been making the rounds that IG Group’s sports betting division, Extrabet could be up for sale according to reports last week on the Slackbelly blog followed by references in ‘The Times’ newspaper.

Last week’s City Diary reported the departure of Stuart Lane, the person in charge, and raised the possibility of a ‘long-rumoured sale’ and IG disposing of its sports spread betting division. Apparently, this has been the subject of speculation in the City for some time and the sale would make logical sense since IG Index generates the vast portion of its revenues from clients trading the financial markets via its IG Index and IG Markets platforms, while sports bettors are rarely interested in becoming stock market traders.

The Times reported that Extrabet has been underperforming but rumours of an imminent sale have been rejected – presumably by contacts within IG Group.

Tags: IG Group, IG Index, igindex

This entry was posted on Thursday, November 5th, 2009 at 10:30 pm and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.