More Detail Emerging On Cassava Business Pre-IPO
Published: Friday, September 09, 2005 Online-Casinos.com
MORE DETAIL EMERGING ON CASSAVA BUSINESS PRE-IPO
48 percent rise in net gaming revenues for first half 2005
Analysts were poring over Cassava Enterprises first half 2005 results this week as the intense interest in the forthcoming IPO of the company continued.
CEO John Anderson is believed to be awarded a maximum of 1 percent of stock following the IPO, several financial and business papers reported.
Net gaming revenue for the six months ended June 2005 were US$123.7 million, a rise of 48 percent on the same period last year.The growth was in part due to a surge in revenues from the Pacific Poker website, which rose 226 percent to US$43.8 million. Poker currently comprises around 35 percent of total revenues for 888.com.
There was also proof of the company's strong international focus with 45 percent of revenues derived from outside the US. The group said 19 percent of its income came from members in the UK, 19 percent from members resident elsewhere in the European Union and 7 percent from the rest of the world.
Rival firm PartyGaming, the owner of the PartyPoker site, takes around 90 percent of its revenues from the US market.
An old favorite brought back under a new software brand, U.S. friendly.
Use just one account to access poker, sports book and casino gaming.
Excellent number of high-quality games and great support.
Nice sign-up and on-going bonuses with fast cash withdrawal processing.
Good selection of fun games including some new, innovative games on offer.
Huge sign-up bonus with reasonable wagering requirements and an excellent look and feel.
New players receive an insane 200% bonus up to $1000 free on both their first and second deposit.
New players offered up to $888 free in sign up bonuses, a special bonus available for blackjack players as well.
