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03 August 2005
PokerStars Moves To Isle Of
Man
Pokerstars,
the world's second biggest internet
poker company,
will announce today that it is moving its operations to the
Isle of Man, presaging a possible stock market
flotation.
The group, which is
controlled by the Scheinberg family of Israel, becomes one
of several gambling companies eyeing a possible London
listing alongside Coral Eurobet, Gala Group, Betfair,
Cassava Enterprises and Trident Gaming.
PokerStars, which is
currently based in Costa Rica, has secured a licence from
the Isle of Man Government and plans to move to the island
later this year.
It has appointed
headhunters to find a chief executive to run the company
from its new base.
Another key factor for
PokerStars was the removal in January of rules barring
companies from accepting casino and poker bets from America,
where internet gambling is a grey area legally.
Although PokerStars is
still some way from taking a decision on a possible IPO,
analysts believe a listing would enable it to become one of
the industry's main consolidators.
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Related pages:
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Appoints Two Advisers Ahead Of
Flotation
Travers
And Nabarros Scoop £512m Empire Online
Float
Party
Gaming Flotation 'Fully Subscribed'
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