Float for phone gambling firm
13 April 2012
A MOBILE phone gambling firm is close to appointing advisers for a flotation next year. Million-2-1, which runs text message lotteries for charities and sports gambling games, is expected to be valued at about £50m.
Chief executive Chris Sheffield is holding talks with Arsenal and its shirt sponsor mmO2 over match-day lotteries for the club.
Sheffield, a former IT consultant with Deloitte & Touche, said the firm was within days of finalising a £2m pre-flotation shares deal.
Until now he has funded the firm with the proceeds of the sale of web design group Eunite to N Brown Group in 2000 for £18m, 15 months after it was launched.
