Pokerroom.Com Parent OnGame To List
Published: Monday, August 15, 2005 Online-Casinos.com
Pokerroom.Com Parent OnGame To List
Ongame confirms the rumours
Swedish software company Ongame has confirmed persistent rumours that it intends to list on the London AIM market next year. The company owns PokerRoom.com, one of the largest online poker companies in the industry and operates the burgeoning Poker Network.
CEO Partick Selin has been quoted as saying, "We are going to go to the stock market, but it takes time to do it right and how it looks now we will be doing it next year."
Ongame posted an operating profit of US$18.25 million for the year ending December 2004, from revenues of US$55 million. It is believed that the company has grown a further 60 percent in the first half of 2005.
Ongame was founded by Oskar Hornell and Claes Lidell. The former's brother Karl, a Java programmer, designed poker software and the site launched in 1999.
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