PartyGaming fuels IPO speculation naming two high-profile executives

By Bookmakers Review12 May 2005
Share with:
 PartyGaming fuels IPO speculation naming two high-profile executives
The world's biggest online poker company appointed Michael Jackson, currently chairman of Sage Group, as non-executive Chairman and Brian Larcombe, former Chief Executive of 3i Group, as its non-executive Deputy Chairman.

Further evidence that PartyGaming is moving toward to float is in its announcement that revenues quadrupled in 2004 to $602 million, showing profits of $391m.

"There's no need for a private company like this to reveal those numbers unless they're thinking of going for an IPO," said an analyst.

"The strategic review has been completed and we are considering the conclusions of that. Our decision will be made sooner rather than later," said Richard Segal, PartyGaming CEO.

Industry sources estimated the market value of the parent company of Party Poker at around $10 billion, a figure that would make it the largest London offering since 2000.