BETONSPORTS OFFICIALLY GOING PUBLIC ON THURSDAY...

[THE SHRINK]

LONDON (Reuters) - Betonsports says it has raised 54.6 million pounds in the year's third-biggest initial public offering fundraising on the Alternative Investment Market.

The company, which operates a U.S. online betting agency and online casino, said on Monday it placed 39 million shares with institutional investors at 140 pence apiece, representing 48.1 percent of its issued share capital.

Prior to the placing, all the shares had been owned by a single individual, whom the company did not name.

The stock will start trading on AIM from 8 a.m. on July 15.

"We already have a track record of successful, profitable, organic growth and our listing on AIM will allow us to consider possible value enhancing acquisition opportunities in various geographical locations and also to explore possible complementary brand acquisitions," chief executive David Carruthers said in a statement.

Half the money raised was through the placing of existing ordinary shares and half from the placing of new shares. The placing price will give the company a market capitalisation of around 113.6 million pounds.

From the 27.3 million proceeds, 8.2 million pounds will be used to buy out the 49 percent of Millennium Group not already owned by the company. Millennium runs some of Betonsports online gambling portals.

The rest will be used to fund international acquisitions, mainly in the Far East and Latin America, the company said.

 

[rjmole]

Great Idea
Now They Can Rip Off Their Stockholders
And Their Players At The Same Time

 

[Fishhead]

Thanks, but I will remain on the stock market sidelines for the time-being.

Thank you anyway sir.

 

[lander]

Wouldn't being a public company force them to act somewhat more honorably?

Nah .. fuk it, it didn't help Enron

 

[FairWarning]

Which means their all of their sales numbers are now public. Might be worth a flier.

 

[TEASERGURU]

Is Carrothers a real person?

 

[miamiman]

The guy (walters) who is owed alot of money from them now has a way to get back at them as it would be very easy to stir up some shit in the papers in england, i have 2 email addresses from 2 high profile journalists in the city who might be interested in something like that.

shrink why do you play at that place if they stiffed one of your buddies ??

 

[ChuckSims]

I will be putting my life savings on the short of this fraud of a company. BOS cheats their customers, what do you think they are going to do to their stockholders?

 

[WildBill]

Don't ever invest in an offshore book, my simple advice. Not only do you have to worry about other investors not "getting" the sports booking business, but then you have to deal with a ton of potential pitfalls with governments. It is one of those things where the problems have to far outnumber the rewards IMO.

 

[miamiman]

.

 

[gambler1]

If there's a way to screw the stockholders BOS will do it eventually.

 

[THE SHRINK]

miamiman,

How they treated Walters and his friend is inexcusable and wrong.

I have always said that...

But, I just can't resist some of their numbers and I am keeping my limits low with them. Thus far, they have always paid me in a timely manner...

However, I do wish they would do the right thing and pay Walters and his friend back the money owed...

Believe me, I have tried to get them to do it but forget about it..

They just don't seem to care...

THE SHRINK

 

[DavidMatthews]

I have seen how a number of offshore gambling sites operate, and I would not want to invest in them. I'm sure there are some good ones, but many places do the following:

Money comes in, spend $25,000 every weekend on hookers, drugs, booz, parties, etc. for the top ownership in Costa Rica or Aruba or wherever.

Many of these sites believe that these parties are for the good of the company or at least that's what they say.

I think for every $1 that gets invested by someone, at least half of it will get spent by top executives on parties, cars, women, etc. and they will justify it as though they are corporate CEOs.

If I found a fiscally responsible offshore site (maybe Pinnacle would qualify) then I would consider investing. BOS?? No way.

 

[peteep]

I must have missed it....what did BOS do to Walters?

 

[REDEYE]

Shrink, I agree with your assesment that its hard to leave alone those #'s. I played their with my original deposit, no withdrawls, so don't know what I'll do if I have to reup after hearing some of these posts.

 

[miamiman]

shrink,

Cheers for the answer.


MM

 

[5teamparlay]

bump

 

[JayC]

5 Team,

May I ask what is your point of bringing up all of this BOS stuff?

I will ask you questions they won't answer.

Does going public absolve them of past debts?

Does going public raise the ethics of the management?

 

[5teamparlay]

Does going public absolve them of past debts?
CAN THIS BE RESOLVED IN THE LEGAL SYSTEM?? IF SO TAKE IT THERE.
If not, the current bettor may have more recourse for current situations that he did not have before.

 

[5teamparlay]

But JayC, i think of them as a market leader, but as look into do a search under betonsports and you will find even more stiff jobs and some classic quotes.

I'd like to hear from them.