Online
gambling
casino
operator
888
Holdings
Plc,
is
planning
to
sell
approximately
$500
million
of
its
stock
in
an
initial
public
offering.
Do
do
so,
its
owners
cut
their
stakes
to
tap
request
for
online
gambling
companies.
The
casino
company
has
appointed HSBC
Holdings
Plc
to
operate
the
sale.
888
is
based
in
Gibraltar
and
is
estimated
to
worth
around $1.5
billion
when
it
sells
its shares
in
London
on
the
LSE
this
month.
The
online
gambling
industry
is
heading
towards
a
doubling
of
its
($12
billion)
revenue
at
the
current
rate
of
growth.
At
this
rate,
the
industry
stands
to
be
worth
$24
billion
in
the
year 2010,
just
5
short
years
away.
More
ans
more,
online
gaming
investors
are
betting
(no
pun
intended)
that
growth
will
outweigh
regulatory
concerns
in
the
US,
where
online
gambling
is
prohibited.
888
Holdings,
which
plans
use
its
listed
stock
to
pay
for
acquisitions,
something
the
company
has
not
done
as
of
yet.
