Tuesday, July 18, 2006

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Buyers interested in Victor Chandler Group

By Sarah Polson

Though the company isn't on the market, bidders are interested in the Victor Chandler Group, a betting firm and owner of Victor Chandler Poker.

The company is worth an estimated £300 million and is expecting to generate £1.4 billion in sales this year, creating a gross profit of £43.4 million.

The reason the business is considered an attractive target is because it doesn't accept wagers from U.S. residents. Originally catering to high-rollers, the company now has a large following in Asia, and its Internet operations, which generate nearly 80% of bets, has significantly increased the extent of their client base.

In order to evaluate the unsolicited approaches, the Victor Chandler Group has hired a corporate-finance firm, Zeus Capital.

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