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Betfair's LMAX Records Loss

LMAX, Betfair’s financial trading exchange, recorded a loss of £13.2 million before taxes for the year ended April 30, according Betfair’s annual report.

The platform launched in October last year. Goldman Sachs holds 12.5% stake.

LMAX has suffered several setbacks, including the resignation of Chief Executive Robin Osmond in April and Chief Operating Officer Martyn Holman soon after.

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