Online Poker Giant Poker Stars
Expected to Float Stock
April 18, 2006 (written by Beat The Fish)
Online
poker giant
Poker Stars is expected to
announce that it will publicly float
the company's stock by year end.
They would join
Pacific Poker,
Party Poker,
Paradise Poker, and the doomed
Empire Poker as publicly traded
online poker sites. The estimated
value of the company is around $2
billion, most of which is owned by
the Scheinberg family.
This
move is somewhat expected given the
enormous surge that
Poker Stars has received over
the past 2.5 years with the last 3
WSOP Champions promoting their
brand. They recently surpassed Party
Poker in terms of total traffic and
an argument could easily be made to
delare them the largest online poker
site currently available. Besides
Empire, other online poker ventures
have generally fared well as a
result of going public.
Update: While the move to float
the online poker giant obviously
fell through in the wake of the
UIGEA in late 2006, the doors are
certainly open to an IPO should the
US legalize online gambling in the
future.
For
players at the poker room, we're
currently offering an exclusive
PokerStars marketing code for a
100% bonus.
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Poker News.
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