GameAccount Listing On The Cards
Published: Tuesday, October 11, 2005 Online-Casinos.com
GAMEACCOUNT LISTING ON THE CARDS
Skill games supplier GameAccount joins the IPO rush
The British media reported this week that skill games provider Gameaccount
may join the growing number of listed internet gambling companies by the end
of the year with an IPO on London's AIM market.
Founded in 2001 by Dermot Smurfit, part of the Irish Smurfit family,
Gameaccount is expected to appoint advisers this week to help raise under GBP10
million ahead of a GBP100 million float.
The group, which allows players to win cash prizes by playing online skill games
such as cards, puzzles, golf and darts, is also close to taking over an as yet
unidentified international rival, it announced. FUNTech in Canada could be a
target, sources said.
The online gambling IPO scene is becoming increasingly complex as more companies
decide to go public.
Recently the CEO of Party Gaming, which listed in June raised concerns with
an observation that the massive online poker sector, which has driven much of
the investor interest could be slowing down.
Party Gaming shares slid (now down by almost 40 percent off the listing price)
and there is a belief that subsequent listings such as Trafalgar
Gaming and 888.com
were affected. Rival Empire Online suffered a decline, too and recently added
to the pessimism by revealing in its reportage that overall the gaming business
was flat over the past three months.
