Tuesday, February 15, 2005

TREND: Online Poker - Virtual Gambling, Real Profits

"This year's hottest hand may be held by an American lawyer named Ruth Parasol, who used to run an adult-entertainment business and is now on the verge of cashing in her online poker chips.

Parasol is the principal owner of Party Gaming, a company based in Gibraltar that has cornered about 55% of the world's $2 billion online poker business. The company is flush with cash and, according to CEO Richard Segal, is contemplating a public offering in London. "It is definitely one of our options," says Segal, who joined the company last year after a stint running Britain's Odeon Cinemas."

Online gambling and gambling in China are two very high growth areas that are likely to receive increased attention from investors. From the online gambling bent, an investor could pick up some Sportingbet PLC, which trades in London. From a China play, one could pick up Las Vegas Sands , which IPO'd just last year and has an amazing Sands Macau property.

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