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Betfair eyes stake in Philippines betting exchange

24th August 2010 9:23 am GMT

Having made its first major move into the Asian gaming market last year with an agreement to provide IT solutions to Interactive Entertainment Solutions Technologies (IEST), operator of a betting exchange in the Philippines, Betfair has now been offered a 40 per cent stake in IEST worth US$15m by Philippines-based Diversified Financial Network Inc (DFNN).

DFNN notified the Philippine Stock Exchange this week that IEST and Betfair had defined an option agreement for Betfair to acquire [...]

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