Sports betting

IG writes off Extrabet business

Spreadbetting specialist reports strong FY revenue growth but announces Extrabet sports betting business to be disssolved after failing to find a buyer.

Financial spreadbetting business IG Group expects to report revenue for 2010 of £320m and adjusted profit before tax of £163m, representing year-on-year increases of 7% and 3% respectively. UK revenues were up 3% year-on-year, Australia by 4% and Europe by 21%. The group however said in a trading statement this morning that it had been…

Extrabet | IG Group | Sports betting | Spreadex