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Online Casino Operators Make a Mint |
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Last month, an article in the Observer focused on the fortunes of some of the biggest online casinos in the world. The British daily listed numerous online casino sites that have recorded millions in profit in the last three years, along with sports betting firms, which are enjoying higher profits as a result of relaxed gambling legislation in the UK and higher levels of computer awareness amongst sports fans. And while Party Gaming was predictably mentioned as one of the largest and most successful online casino operators, smaller operators were also named among the leading profit makers.
The Observer revealed that one of the most lucrative deals between online casino operators in 2005 was the sale of Coral Eurobet to Gala Casinos. The firm is Britain's third largest bookmaker, which was valued at 378 million pounds sterling three years ago. Today the firm is owned by Gala Casinos and valued at 2.1 billion pounds. The online casino company is expected to float publicly this year with industry insiders predicting that its IPO may well exceed over 4 billion pounds. Sporting Bet and 888 Holdings also received a mention in the Observer, with the most interesting floatation on the London Stock Exchange being awarded to online casino software firm Playtech.
Strong growth is predicted for the online casino industry with the poker bubble showing no sign of bursting. The European and Scandinavian markets are proving especially lucrative for those online casino operators seeking to distance themselves from the U.S. and its anti-gambling policy.
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