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Ultimate Bet lays out its float plan

Discussion in 'Casino Industry Discussion' started by mary, Jul 25, 2005.

    Jul 25, 2005
  1. mary

    mary Dormant account

    You must register/login in order to see the link.

    July 24, 2005

    Ultimate Bet lays out its float plan
    Matthew Goodman

    THE operator of Ultimate Bet, one of the worlds leading on-line poker firms, is gearing up for a 200m flotation just weeks after larger rivals Party Gaming and Empire Online made their stock-market debuts.
    Excapsa, which runs Ultimate Bet, has hired Canaccord Capital to advise it on the possible listing. It hopes to raise almost 30m from the flotation and the company, headed by chief executive Jim Ryan, would be valued at between 145m and 200m.

    The site, launched five years ago, has its gaming licence in Kahnawake, Canada. It is the seventh-largest poker room on the internet, according to Pokerpulse.com, which monitors poker sites. It has recently launched in the UK under the Ultimate Poker brand.

    The City appears to have an insatiable appetite for poker stocks, following the purchase of Paradise Poker last year by Sportingbet, the online gambling group, as well as the Party and Empire flotations.

    Analysts expect merger activity in the fledgling sector. Last week a Citigroup research note suggested that Party may consider a takeover of Empire.

    Meanwhile St Minver, which sets up and runs online gambling websites for third parties, including Yahoo and Virgin, is also working on plans for a flotation. It has appointed Panmure Gordon, the stockbroker, to work on a possible listing, which may happen in autumn.

    The companys chairman is Anthony Wollenberg, a gaming industry veteran.
  2. Jul 26, 2005
  3. webber286

    webber286 Dormant account webmeister

    The Frozen Tundra
    Another step in the direction of legitimizing the online poker industry and placing more pressure on the U.S. to reconsider their policies.
  4. Jul 26, 2005
  5. mary

    mary Dormant account

    Party Left Kahnawake as a licensing jurisdiction recently for Gibraltar. Wonder if Ultimate Bet will do the same thing.
  6. Aug 10, 2005
  7. tryme1

    tryme1 Dormant account

    Marketing Consultant
    Well, good luck to them. They've got some good promotional ideas running over here in the UK ...well, London, at least. Ultimate sponsor receipts from taxi companies with a $200 bonus offer. Pretty cool idea, I thought.
  8. Aug 10, 2005
  9. dominique

    dominique Dormant account

    The Boonies
    Seems that more and more companies are moving to Gibraltar.

    There must be a good reason.

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