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Online Poker Firm PartyGaming Considering U.K. Flotation

Authored by Mark Hefflinger on January 27, 2005 - 6:12am.
London -- According to the Financial Times, U.K.-based PartyGaming, currently the largest online poker company in the world, is considering an initial public offering (IPO) on the London stock exchange. Analysts estimate that the listing would generate as much as $9.5 billion, which would make it the largest listing in London in more than three years. "PartyGaming has a leading market position, proven technology and is generating significant levels of profit and operating cash flow," said CEO Richard Segal. Segal added that his company had hired investment banks Dresdner Kleinwort Wasserstein and Investec to review its options, with an IPO being "one of the options" under consideration. PartyGaming runs three main brands (PartyPoker, StarluckCasino and PartyBingo) that currently account for more than half the global online poker market.
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tags: Online Poker | PartyGaming | U.K. Flotation |



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