Reuters confirmed today that online betting exchange Betfair has plans to expand in a grand way in 2014.
And the United States and Italy will be the prime targets for expansion.
Representatives for Betfair admit that business in Italy and the United States has been very good this year, with underlying profits climbing 16 percent in the first six months of 2013.
Betfair has been slimming down its operations and cutting costs under new chief executive Breon Corcoran, seeking to focus on fewer markets where returns are more secure.
“Betfair has continued to make progress against the strategic objectives we set out in December 2012 and has delivered a good first half performance,” Corcoran said. “Our focus on regulated jurisdictions and Sportsbook-led acquisition continues to be successful.”
As mGamingWatch has reported in recent weeks, Betfair has already established online casino operations in New Jersey and a betting exchange in Italy is next on the company’s agenda.
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