6 replies to this topic

[hawk99]

Party Poker is a cash machine!World's biggest online poker site considers IPOBy Matthew Garrahan in London Published: January 26 2005 21:50 | Last updated:January 26 2005 22:09The world's biggest online poker site is edgingtowards a market listing, in what could be a furthersign of a resurgence in investor interest in internetbusinesses. PartyGaming, the online poker and casino operator, onWednesday appointed Dresdner Kleinwort Wasserstein andInvestec to advise it on “strategic options”.PartyGaming, formerly known as iGlobalMedia, ownsParty-Poker.com, and has 5m registered users. It hasbeen sounding out banks in London over a potentialflotation that could be worth more than £2.3bn($4.3bn).Bankers who have seen the Gibraltar-based group'saccounts say that it generated earnings beforeinterest, tax, depreciation and amortisation of morethan $350m in 2004.The group is keen to float in 2005, after witnessingthe successful acquisition of Paradise Poker, a rivalpoker site, by Sportingbet, the UK-listed onlinebetting company. After that deal, Sportingbet sharesrose nearly 64 per cent. With online poker booming,bankers say investors are clamouring for a listedvehicle to invest in.“[PartyGaming] knows there is a window of opportunityhere which is why they want to get the float away,”said one.A successful PartyGaming float is expected to catapultthe group into the FTSE 100, creating a businesssimilar in size to William Hill, the quoted bookmaker.PartyGaming is owned by a small group of investors,including Ruth Parasol, an American lawyer, and AnaragDikshit, a software specialist from India. Ms Parasol formely worked in the “adult entertainment”industry, including web sites, but left in 1995 andset up iGlobalMedia in 1997. No single shareholder hasa controlling interest. PartyGaming takes a percentage of “the rake”, the sumwagered by all players on a particular hand. At peaktimes group's poker operation has 65,000 simultaneousplayers.

[Spidurman]

One poker site is already public:CryptoLogic Inc. is a public company trading on the Toronto Stock Exchange (TSX) under the symbol CRY, on the Nasdaq National Market under the symbol CRYP, and on the London Stock Exchange Main Market under the symbol CRP. Complete investor relations information is available on our website or by requesting an investors package using our online registration form

[hawk99]

Cryptologic is not a poker site, they supply the software and back-end support for poker and gaming sites like William Hill.

[Spidurman]

Its fairly similar (closer than say Harrahs) - and anyone who's an investor should know CRL's business model and profitability in their business units.

[DiverDown4]

Quote

PartyGaming is owned by a small group of investors, including Ruth Parasol, an American lawyer, and Anarag censored, a software specialist from India.

What the hell kind of last name is censored on this site? haha

[hawk99]

the last name that was censored by this site believe it or not was "D*ks*it"

[JFarrell20]

LOL. That's hilarious. Anarag Sensored is his new name.