HG Capital bets on Sporting Index

Private equity house HG Capital has snapped up spread betting group Sporting Index from Duke Street Capital for £75.8m.

Existing management will continue to run the company, set up in 1992, with Richard Glynn staying on as chief executive.

Sporting Index, which is also the only sports spread betting company to offer continuous 24 hour betting and sports spread betting on Sky TV, commands roughly 70% of the UK market.

HG said it will work closely with management to leverage the strength of Sporting Index’s core business, both organically and by acquisition, to build a broader-based betting and gaming group.

“This will involve not only the roll-out of the proven Sporting Index sports spread betting model into new jurisdictions, but also a further expansion of the product range, both domestically and internationally,” it added.

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