L&G told the London Stock Exchange that it has raised £1.75 million and is aiming to promote growth in its Betshop Italia chain through the placing of shares with Blue Oar Securities.
"Having successfully developed the largest franchise network of betting shops in Italy over the last two years, our priority is now to continue driving the growth through increasing the range of products across our network and applying our proven business model to other international markets," said CEO Henry Birch.