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Online gaming company 888 Holdings plc announced plans to float on the London Stock Exchange (LSE) in an IPO that values it at £700m.  888 reported 2004 revenues of $178 million and profits of $41 million.  The company has 790 employees

The news follows the wildly successful June float on the LSE of rival online gambling operator PartyGaming which valued it at £4.64bn 

copy of the regulatory filing:

http://www.londonstockexchange.com/LSECW...id=1060575&source=RNS

We're definitely in the wrong online business if we want to become stinking rich

888 has over 20 million users and 790 employees?  :blinkie: ...and PartyGaming has a larger market cap than British Airways?  :blinkie: I didn't realize that online gambling had gotten that big. 

Mandy Wrote:We're definitely in the wrong online business if we want to become stinking rich 

...and how many years did it take you to figure that one out? :twistedevil:

Speaking of PartyGaming, its shares plunged 33% this week after it reduced growth estimates...that is a loss of about $3.4 billion in market capitalization.

They still managed to generate revenues of over $430 million in the 1st 6 months this year.  :blinkie:  ...make that a double shocked smilie  :blinkie: :blinkie: that people spend that much playing online poker.

http://news.independent.co.uk/business/n...310837.ece

The shares opened for their first day of trading on 29/9/2005:

Quote:Shares in 888 began trading this morning following the IPO of the online casino. The share price was set at 175p valuing the gambling operation at £590m ($1.04bn).

http://www.theregister.com/2005/09/29/poker_trading/