Ultimate
Bet Lays Out Its Float Plan
Ultimate Bet Lays Out Its
Float Plan By staffThe operator of Ultimate Bet
is gearing up for a ?200m flotation just weeks after
larger rivals PartyGaming and Empire Online made
their stock-market debuts.
Excapsa, which runs Ultimate Bet, has hired Canaccord
Capital to advise it on the possible listing. It
hopes to raise almost ?30m from the flotation and
the company, headed by chief executive Jim Ryan,
would be valued at between ?145m and ?200m.
The site, launched five years ago, has its gaming
license in Kahnawake, Canada. It is the seventh-largest
poker room on the internet, according to Pokerpulse.com,
which monitors poker sites. It has recently launched
in the UK under the Ultimate Poker brand.
The City appears to have an insatiable appetite
for poker stocks, following the purchase of ParadisePoker
last year by Sportingbet, the online gambling group,
as well as the Party and Empire flotations.
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