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U.K. Online Casino Sportingbet Confirms Talks with Empire Online

Authored by Mark Hefflinger on September 6, 2005 - 6:14am.
London -- Sportingbet, a U.K.-based Internet betting and gaming group listed on the London Stock Exchange's Alternative Investment Market, confirmed that it is holding takeover talks with Empire Online, a U.K.-based company that provides marketing services for the online gambling industry. "These discussions are at a very preliminary stage, and there can be no certainty whatsoever that agreement will be reached and an offer will be forthcoming," Sportingbet said. Last week, Empire admitted that it received a $1.45 billion bid approach after takeover rumors caused its share price to increase sharply; the company, however, declined to identify its suitor. Quoting an unnamed source familiar with the talks, a Financial Times report said that other suitors, such as PartyGaming and 888.com, may yet make rival bids for Empire, which launched an initial public offering (IPO) less than three months ago.
tags: U.K | Empire Online | Online Casino | Sportingbet |

Report: Online Casino Cassava Planning IPO for 888.com

Authored by Mark Hefflinger on September 6, 2005 - 5:31am.
London -- Cassava Enterprises, a Gibraltar-based online casino operator, announced that it is planning an initial public offering (IPO) for its online casino 888 sometime this month. Cassava said it would seek a full listing on the London Stock Exchange in a move that could value the company at more than $1.29 billion, according to estimates by the Financial Times. "The industry has reached a stage where consolidation is going to be the name of the game over the next 18 months, and we want to be there and take it forward," 888 CEO John Anderson said. Cassava said the IPO would also help it to make acquisitions and hire staff, as well as provide a partial exit for shareholders. Cassava runs several online casinos, including Pacific Poker and Reef Club Casino. 888.com currently boasts more than 20 million members in more than 150 countries.
tags: IPO | Reports | Online Casino | Cassava | 888.com |

Report: U.K. Online Casino 888.com Planning IPO This Year

Authored by Mark Hefflinger on March 17, 2005 - 10:24am.
London -- According to a report by Reuters, online casino 888.com is planning an initial public offering (IPO) on the London Stock Exchange's Alternative Investment Market (AIM) later this year. Quoting unnamed sources close to the company, Reuters said Cassava Enterprises --- 888.com's Gibraltar-based parent company -- had already hired Credit Suisse First Boston to prepare an IPO that would value 888.com at about $1.6 billion. Industry experts have long tipped the online casino to cash in on the booming U.K. Internet poker market. A recent study conducted by 888.com found that the total number of people gambling over the Internet in the U.K. has increased by more than six times over the last 12 months. What's more, the survey of more than 2,700 people also found a remarkable 566% increase in the amount of money staked online since the end of 2003. Neither Cassava nor CSFB has commented on the Reuters report.
tags: Internet | IPO | Reports | U.K | Online Casino | 888.com |