Playtech Set To List?
Published: Thursday, September 22, 2005 Online-Casinos.com
PLAYTECH SET TO LIST?
Advisors appointed for possible listing
Turnkey casino software provider Playtech has reportedly triggered plans for a listing on the London Stock Exchange (LSE).
Media reports say that Playtech officials have met with advisers in London over potential plans for an initial public offering.
A City source said the firm was looking at a possible listing on the LSE as soon as November this year.
But a spokesperson for Playtech played down the rumours saying the firm had no plans to list before the end of 2005.
A seperate source close to Playtech said a trade sale was also a possibility.
He added the firm will be closely watching the market reception of casino firm Cassava / 888 Holdings, which started marketing for a September listing this week.
The 888 flotation will be viewed as a bellwether for the egaming industry, and could potentially delay or cancel some IPOs being considered for later this year.
Playtech is likely to present a strong growth story with the firm adding several major clients in the past year, most notably the recent addition of Empire Online which purchased the Club Dice group.
Analysts said the firm could potentially claim a valuation in excess of that attached to rival software firm CryptoLogic of GBP195 million.
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