Travers And Nabarros Scoop £512m Empire Online Float

ravers Smith has scooped a lucrative role opposite Nabarro Nathanson advising long-term client Numis Securities, the underwriters to Empire Online, on the internet-based gambling company’s £512m floatation on AIM.

The float, which took place yesterday (15 June), sees Empire become the seventh largest AIM-listed company by market capitalisation behind the likes of market rival SportingBet, which is currently valued at £934m.

Both City firms have been key advisers to Numis for several years, with Nabarros winning the instruction from new client Empire in March after a referral from the investment bank.

Empire, which is based in Cyprus but registered in the British Virgin Islands, provides marketing for the online gambling industry, directing new players to poker and casino websites like Party Poker and 888.

The company operates in various jurisdictions including the US, UK and Scandinavia.

Travers’ head of corporate finance Spencer Summerfield led the team with support from partner designate Alasdair Steele.

Corporate finance partner Warren Taylor led on the float for Nabarros with assistance from corporate partner Iain Newman and corporate assistants Richard Bevan and Sam Quinn.

Jacqueline Daley, a corporate associate at British Virgins Island practice Harney Westwood & Riegels, advised on offshore aspects while Cynthia LaRose, a corporate partner at US firm Mintz Levin Cohn Ferris Glovsky and Popeo, advised on US aspects of the deal.

PartyGaming, the world’s largest online poker company, unveiled its own £5bn IPO earlier this month as evidence mounts of the investment explosion in the internet gaming industry in recent years.

Both Travers and Nabarro’s also scored lead roles on the £120m float earlier this month of FireOne, an internet gaming payment processing company.