What is going on at Extrabet - the sports betting arm of spread betting giant IG Group?
Stuart Lane, the respected Extrabet boss, has left the building, which observers are viewing as a possible precursor to the FTSE 250 company offloading its sports division.
Such a deal has long been rumoured, as IG generates the vast majority of its revenue and profit from clients trading financial markets via its IG Index platform, while sports clients are rarely converted into more profitable financial clients - despite the industry's best efforts.
Developing...
Tuesday 27 October 2009
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