Free Money Online Casinos online casinos IPO Bookmark this portal  |   Make this portal your homepage   Search For:   Free Money Online Casinos Contact Us Add Your Site Updates Links Slots Casinos Games Craps Online Casinos Tools Baccarat   Free Money Online Casinos - IPO date approaches for online casinos giant Investors are getting excited as Party Gaming, the world’s leading online casinos and poker site, is about to file for its initial public offering (IPO). This online casinos company is being evaluated as one of the biggest listed British firms for the last five years. The listing of 22 percent of Party Gaming’s shares is expected to give the firm cash of $2 billion, resulting in the market value of this company being $10 billion. “The Economist”, a British weekly magazine, analyzed in its edition dated June 27 that investors exploding interest in Party Gaming reflects the rapid growth of the online casinos business. Currently about 1,800 online casinos are operating worldwide. Experts predict that the global online casinos market, worth $4.5 billion at present, will quadruple to $18 billion in three years. The unprecedented boom in businesses running online casinos results from the fact that women and young people, unwilling to gamble at hotel casinos, are rushing to the online casinos sites. The proportion of women customers is 45-50 percent at online casinos compared to 10-15 percent at physical casinos. Internet gambling sites make 1-2% of every pot as commission. These online casinos, which incur no labor costs (unlike hotel casinos) can generate astronomical net profits. Last year, Party Gaming made profits of $350 million out of $ 601.6 million revenues. On the other hand, Harrah’s Entertainment, the world’s largest hotel casino owing Caesars Palace made net profits of less than $700 million out of more than $8.7 billion in revenues. << Back   Copyright 2004 © Free Money Online Casinos. All rights reserved.