| Top > News > 2006 > March > 21 Mar 2006 |
Online Casino Software Firm Goes Public |
| Playtech, the online casino software developer, has stated that it will sell $300 million worth of shares when it lists publicly on the London Stock Exchange in a few weeks. The shares will represent the biggest single listing on the Exchange in 2006 so far and the floatation has already created strong interest amongst potential investors and analysts in the online casino industry. Reports suggest that the shares from the online casino software firm will be listed within a few weeks. Playtech was founded in 1999 and licenses its software to 37 online casino firms. These in turn operate 89 online casino websites, 16 online casino poker rooms and 14 bingo sites. The company’s management is based in Britain, with offices also in Estonia and Israel. The company’s sales increased recently to $47.6 million, over four times the amount of sales recorded in 2003. In other Playtech-related news, Freddi Robinson, one of the first Israeli owners of the firm who sold his shares prematurely before the online casino gaming boom, has re-established his involvement with the industry. Robinson has begun a new online casino venture targeting Central and Eastern Europe. The ex-Playtech owner will be hoping to recoup some of the losses he made when he sold his shares for a small 3.9 million in 2002. |
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