|Online betting business BetGenius.com has hired investment bank Arbuthnot Securities to conduct a strategic review that experts predict will lead to the sale of the firm.|
Arbuthnot specialises in advising smaller companies on their strategic options and a sale is regarded as the most likely outcome with software firms and bookmakers among those who could be interested in buying BetGenius.com. Analysts suggest BetGenius.com could fetch up to $118 million with Managing Director Michael Hornung in line to reap a substantial percentage. Hornung is the single biggest shareholder while the firm’s Business Development Director, Alistair Flutter, also holds a large stake as do fellow Directors David Walker and Mark Locke.
BetGenius.com allows punters to compare odds and also provides services to bookmakers. Sources stated that the review was in its early stages and that it would be some time before any decisions were made.