Online Casino BTDino

The blog for the online casino btdino contest

Saturday, October 22, 2005

Floating casino

If, as expected, the float takes place this summer, its bankers are predicting that the company will leap into the FTSE100 Index.

Some analysts, however, think the £3bn estimate of the company's worth may be too high. They predict increased competition as other companies, including Betfair, the betting exchange and the British gambling success story of the last decade, set up their own poker websites.

Iain Wilkie, a partner with Ernst & Young, the accountants, who has worked in the gaming sector for 10 years, said: "PartyGaming has a fantastic customer database, knows how to operate on-line gambling securely and knows how to attract and keep customers with a variety of games. But its ultimate worth may depend on how much of its revenue comes out of the US market."

What Wilkie is referring to is the paradox that the US is the world's largest online gaming market, even though the legality of internet gambling is unclear. No licences have been granted for internet gambling by the US authorities and there is speculation that they may try to regulate offshore online companies in the future.

Whatever PartyGaming's future holds, 725 poker players on board the Oosterdam were last night hoping to become a dollar millionaire in the next week. They include Martin Sandler, 42, a lawyer with a City investment bank, who has been practising his skills for the past month on PartyPoker.com. He said: "I get an immense amount of satisfaction from outwitting my opponents - and winning money. I am going to give it my best shot."