Playtech Casino Developer Float A Success
Published: Saturday, April 01, 2006 Online-Casinos.com
PLAYTECH ONLINE CASINO SOFTWARE DEVELOPER FLOAT A SUCCESS
UK media angle is that online casino gaming is on a roll
The UK media have been reporting the first two days trading on the recently floated Playtech stock this week in London, concluding that the healthy performance was an indication that the investor interest in online casino gaming remains high.
The GBP 548 million AIM flotation of the online caisno software developer Playtech showed that investors on both sides of the Atlantic are for now disregarding the attempts in the USA to ban this form of online casino gambling over the Internet and commit cash to an industry which has been in existence for a little over ten years, currently generating annual revenues around $11 billion.
Reports reveal that the Playtech IPO was some five times oversubscribed when broker Collins Stewart offered stock to investors, the shares soon left the 257pence placing price miles behind. They touched 274 pence on hefty turnover of 37 million, business press reported.
Israeli entrepreneur and largest shareholder Teddy Sagi is about GBP 90 million richer this week after selling 25 percent of his shareholding in the float. He still retains a stake worth in excess of GBP 218 million.
