Game Types Bonuses Slots More
Online Casinos Poker Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Live Dealers
Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions Edit Preferences Search
Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! Market Debut Tepid

29 Sep 2005

LONDON – As reported by Reuters: "Internet casino 888 made a tepid market debut on Thursday after it priced its shares at the lower end of a range and as investors turned their focus on takeover targets in the sector.

"888 priced its initial public offering at 175 pence a share -- from a range of 162p to 212p -- amid concerns about slowing Internet gaming growth after a warning this month from online poker group PartyGaming.

"By 11.15 a.m. the stock was nearly 2 percent below the IPO price at 172p, giving the company a market value of around 580 million pounds. The shares had jumped around 5 percent in opening trade.

"…Analysts said that with 888 unlikely to be a takeover target in the near term, focus had moved to stocks that could attract predators.

"…The company is over 90-percent controlled by two Israeli families and run by Gibraltar-based Cassava, which also operates fellow online casinos Pacific Poker and Reef Club Casino…"

About Us | Advertising | Publications | Land Casinos