Another Online Casino Firm Aims for IPO
Poker Stars, the second largest online casino group, seems to be following other major online casino firms’ example, and sets for a London IPO later this year, as reported by the Sunday Times. Poker Stars group runs several highly successful online gambling venues, and this financial move was fairly expected. The past few years shows enormous growth in the online casino market with an ever-growing number of players gambling and spending money at online casino sites. Firms such as Poker Stars who lead the industry have become very wealthy as a result.
The Sunday Times is reporting that the online casino group will launch its IPO before the end of the year, and will be valued at an estimated GBP 1.1 billion. The online casino group celebrated its fifth million registered player, and that could explain the gigantic stock value. Poker Stars will join other online casino groups that have already issued their IPO, companies like 888, Empire Online and Playtech. The online casino industry is becoming an established and well-funded business entity in today’s world.
Poker Stars is controlled by the Scheinberg family that also controls several other financial organizations. The Sunday Times reports that a major business deal that was about to be executed has been put a side, and that it probably means the online casino group’s IPO is close. The online casino community should be happy with the new business development over at Poker Stars, as it shows that the online casino market is a stable and growing one.