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Tuesday, October 18, 2005

Casava internet gambling

Cassava Enterprises, one of the world's biggest internet gambling companies, has hired CSFB to prepare a flotation of 888.com, valuing its online poker room at up to $1.6bn (£836m). The flotation is expected in the second half of the year.

The move comes just weeks after PartyGaming, owner of Party-Poker, the world's biggest poker site, said it had hired Dresdner Kleinwort Wasserstein and Investec to look at a London offering, with a valuation of more than £3bn.