Jordan in pits as Betbrokers crashes

“BETTING JUST got better” is the rather unfortunate marketing slogan of AIM-listed sports betting brokerage, Betbrokers.

“BETTING JUST got better” is the rather unfortunate marketing slogan of AIM-listed sports betting brokerage, Betbrokers.

Tell that to Irish millionaire Eddie Jordan, who owns almost 5.4 per cent of the business and who, along with his fellow investors, appears to have little chance of recouping his investment, after the company’s shares were suspended from the market.

The suspension in share trading on Tuesday came just four days after Betbrokers revealed that its British subsidiary had been placed in administration.

The group said that it was “unable to fully ascertain the effect of this on the company’s financial position”.

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On Friday last, Daniel Stewart Co resigned as the company’s nominated adviser (Nomad).

The value of Jordan’s stake has crashed since Betbrokers’ market debut in late 2006 – its shares have gone from 15 pence to a quarter of a penny at the time of the suspension.

The odds seem heavily stacked against it ever reappearing from the pit lane.