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AIM launch for ubet2win

Article Date:  Jul 27 2005


Acquisitive bookmaking group ubet2win, which has pitches at courses in England and Ireland, is introducing its shares onto AIM tomorrow at 3.5p.

The company, valued at £5 million at the listing price, has chosen the third day of Goodwood to join AIM, with Beaumont Cornish as nominated adviser and Midas as broker. Chaired by Andy Moore of Catalyst New Opportunities and run by chief executive Gerry French and members of his family, ubet2win has pitches at 19 racecourses, including Ascot, Aintree, Cheltenham, Goodwood and York in England and the Curragh and Punchestown in Ireland.

Last year, when the company had its English pitches for a full year but its Irish ones for only six months, ubet2win lost an inconsiderable £1,511 on turnover of £936,000. To hasten a move to profitability, French is talking to Betfair about establishing an online betting site, exploring the possibility of launching online poker and seeking to acquire pitches at Newmarket, Sandown and Windsor,

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