PartyGaming could be worth $9.2 billion

 

June 15

Online poker operative PartyGaming Plc, will be assessed at nearly $9.2 billion (5.08 billion pounds) when it sells stock in an preliminary public offering this month to benefit from the huge serge of online gambling as of late. The world's largest online casino poker operartion is based in Gibralter

By selling 20.6% of its shares for 111 pence to 127 pence each, the company plans to boost about 1.1 billion pounds in revenue. The center of the price range gives the company a value approximately 25 times higher than its 2004 income (net).

PartyGaming controls about 55% of the world-wide online gambling poker market. The only major UK adversary to PartyGaming is Sportingbet Plc - worth $1.5 billion.

One UK company estimates that online gambling could grow nearly 22% a year by 2008. The lower side of PartyGaming's market worth comes from shareholder' concern over the legal aspects of online gambling in certain countries where the company draws major earnings from.

As long as investors are appeased that these legal issues are maintained, there is nothing in the way of more success for this online gambling company.