Microgaming Online Casinos: More online casinos IPOs

Microgaming Online Casinos
More online casinos IPOs

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Microgaming Online Casinos - More online casinos IPOs

Online casinos, ever since big-name companies like Party Gaming and 888 Holdings went public, just love to offer an initial public offering over the internet. And the get-rich-quick hopes of online casinos IPOs are once again making headlines in the online gambling world as a company linked to online casino software provider Microgaming, Fairground Gaming Holdings, went public on the London Stock Exchange and Crystal Group, an operator of online casinos sites, announced its intentions to go public as well.

Evan Hoff, Director of Fairground Gaming said, “We see many positive opportunities for consolidation in the smaller end of the fragmented online gambling sector and today's listing gives us the right public profile and platform from which to rapidly grow our business through acquisition.” Crystal Group, for its part, stated that revenues gained from an IPO to be launched at a later date for the online casinos company will be used to help launch an online poker site. Online casinos rarely want to offer an IPO for anything other than to simply fill their coffers, so it is somewhat reassuring that financial gain is only a part of the Crystal Group’s plans, though granted they want to make an online poker site just to get more money.

Online casinos, it seems, just can’t get enough of IPOs even though Party Gaming lost more than a billion pounds on a single day after a less than stellar wager report, and 888 debuted to the tune of millions of pounds instead of the hoped for billions of pounds that online casinos execs and their financial advisers had been having visions of. These online casinos would be smarter to focus on providing quality games and quality services instead of going public. The online casinos industry is young, and online gambling has many heights to reach in the future. It seems, though, they haven’t learned that age-old lesson: slow and steady wins the race.

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