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Copyright 2004 Times Newspapers Limited
Sunday Times (London)
September 12, 2004, Sunday
HEADLINE: PartyPoker.com shuffles its cards
for a float
BYLINE: Matthew Goodman
BODY:
THE market-leading online
poker site Partypoker.com is believed to be planning to float
on the London stock market, writes Matthew Goodman.
Company representatives are said to be holding
talks with a number of investment banks to discuss the feasibility
and timing of a possible share offering.
Talks are at an early stage and there are
a number of hurdles to be cleared, not least because online
gambling in America is a legal grey area. To offer online
fixed-odds sports betting to US citizens is illegal. But sites
such as Partypoker may be in the clear as they are not engaged
in fixed-odds betting.
Partypoker, whose launch was attended by guests
including Lord Brockett and Jordan, the model, provides a facility
for people to play against each other and collects a commission
on the amount staked.
It is not yet clear how much Partypoker is
worth, but the firm is believed to be profitable.
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