Partygaming PLC: 11% increase for First Day of Trading

Filed in archive Poker on June 27, 2005

After months of speculating and analysis and enough headlines to keep online poker in the business pages on a daily basis, Partygaming.com, operators of the worlds largest online poker room, partypoker.com, finally went public

The offer price opened on the London Stock Exchange at 116p - at the lower end of the expected range, and finished 11% up at 129p. This values the company at almost $8.5bn and will most likely fast track the company to the FTSE 100

The company floated 20% of the company, with the 4 founders retaining approxinamtely 74% and 5% towards employee schemes.

Partypoker is the market leader with 55% of the online poker market, but some analysts are concerned that 80% of their revenues are derived in the US, where the online gambling law is still uncertain

- PartyGaming Makes Good Start in Debut- Partygaming shares rise on debut