Gambling group gears up for flotation

BOOKMAKER Coral Eurobet is said to be preparing for a €1.1 billion stockmarket flotation.

A listing would make it the latest in a number of firms to cash in on the stockmarket’s appetite for gambling stocks, following the recent flotations of internet poker groups Party Gaming and Empire Online.

It would mark a major windfall for the management team, led by chief executive Vaughn Ashdown. Coral’s management owns 16% of the business, which would be worth around £128 million at the value being discussed.