Victor Chandler is one of the most well-known names in the global gambling industry. Founded in 1946, and having achieved enormous success in both the land-based gambling and online casino, sportsbook and internet poker industries, it has come as a surprise to some investors and online casino industry insiders that Victor Chandler is now considering selling their broad company.
The news of a prospective buyout is certainly not a rumor, for it has been verified that Victor Chandler executives are in talks with the corporate finance firm, Zeus Capital, who is advising the gambling company on how to gauge several unsolicited offers that have recently surfaced from potential buyers (unnamed sources). Sports betting – both online and on the land – accounts for the majority of Victor Chandler’s gambling business. However, a steady amount of revenue has been resulting from traffic incurred on not only the main Victor Chandler , but the company’s online casino and poker room as well.
Despite the fact that Victor Chandler is doing well for itself, the company’s online presence has been lagging behind the UK online sports and casino betting powerhouses, BetFair, William Hill, Ladbrokes and the surprising Paddy Power. A buyout is definitely a possibility, but by no means is an only-alternative for the betting group. Victor Chandler has been expanding considerably, especially in the Far East, where sports betting and online gambling are going strong, promising to only grow larger in the coming years.
Whatever ends up happening, forecasters are predicting a very hefty price tag on Victor Chandler. The company should easily reach beyond the £1.4 billion mark in annual revenue for 2006, with a gross win turnover of approximately GBP £43 million. With figures like those, it is a safe bet to say that Victor Chandler and Zeus Capital are raising the online casino payouts, if you will.