Wolds Largest Online Poker Room Party Poker Set to IPO

Just after 7 years of being in operation the world renowned and worlds largest online poker company, Party Gaming and the parent company of Party Poker have set it to be one of the biggest companies in Britain by value. Official PartyGaming representatives have said that up to 23 percent of it’s shares will be expected to be sold in the offer to shareholders which will likely include it’s founder and management.

The valuation of the firm following the listing is predicted to be in the region of US$8-10bn, based on 2004 annual pre-tax profits of US$371.7m. Richard Segal, PartyGaming’s chief executive, said one of the motivations behind the float was that it would assist the firm in pursuing future acquisitions. “The online gaming market is fragmented and geographically diverse, which presents opportunities for strategic acquisitions and market consolidation,” Segal said.

From a personal stand point for any of you out there who may be interested in purchasing the stock I would recommend staying away from it until post IPO as an IPO within the online gambling space of this size is bound to stir up some trouble within the U.S. due to their strong opposition to online gambling on the internet. If you’re going to buy it’s advised that you don’t drop too much money into them right away! If you’re interested in playing at Party Poker click here if you’re interested in more details about the poker site click here for a Party Poker Review