Microgaming Online Casinos: 888 online casinos to go public

Microgaming Online Casinos
888 online casinos to go public

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Microgaming Online Casinos - 888 online casinos to go public

In yet another example of online casinos companies rushing eagerly to go public with shares offerings in an uncertain time for the online gambling industry (albeit a time of great prosperity) the online casinos firm 888 has finally set the price range for their planned sale of shares on the London Stock Exchange at being between 162-212 pence for each online casinos share of 888. The range provided for the online casinos company shares is expected to give the company a market value upon going public of between 546.1 million pounds (US $1 billion) and 714.6 billion pounds (US $1.3 billion). 888 runs several online casinos and other genres of online gambling sites, such as Pacific Poker. Net gaming revenue for 888 was up 14.2% in the first half of 2005, compared with the same period of one year ago. When the online casinos gambling company first came forward with the announcement to float their shares, any such listings for the online casinos company was expected to give the company a valuation of at least 700 million pounds. If the IPO goes as successfully as is expected, then that valuation estimate will be simply that, an estimate, while the revenues from the share floatation exceed those gained from the online casinos gambling services offered by 888 and its subsidiary companies. There is little evidence that the stock floatation plan of 888 will falter, though the recent performance of the stock of the online casinos company that started the current IPO rush, Party Gaming, has been a cautionary tale. Party Gaming noted in a recent announcement that new gamblers at their online casinos and gambling sites like Party Poker and Party Bingo were not waging as much as more established gamblers caused the shares to dip and lose more than $1 billion – effectively wiping out all the gains made since Party Gaming went public.

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