Ultimate Bet Discloses its Flotation Strategy

July 27 - There is lots of corporate activity in the online gambling industry. This reflects the growth and exponential success of the industry. Sportingbet purchased Paradise Poker last year in a multi-million dollar deal. Party Gaming recently made their published debut to the stock market. Now a smaller rival, Ultimate Bet, has announced its plans for a £200m flotation.

Ultimate Bet is managed by a company called Excapsa. It has appointed Canaccord Capital to assist with possible listing. Its chief executive, Jim Ryan announced that Ultimate Bet is worth about £145m and £200m. He plans to raise almost £30m from the flotation.

Ultimate Bet was only launched about 5 years ago, and is licensed in the jurisdiction of Kahnawake, Canada. According to poker industry source Pokerpulse.com the site is seventh-biggest poker room on the internet. It has recently expanded in the UK under the Ultimate Poker brand.

The appetite for poker shares is huge at the moment. Watch this space for more news on corporate activity in the industry.

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