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Online Poker News Archives - September 12, 2004

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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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