Wednesday, June 15, 2005

PartyGaming raising $2 bln as poker booms

"PartyGaming, the world's biggest online poker company, said its backers will raise up to 1.14 billion pounds ($2.1 billion) in a London share listing, less than expected as concerns over the legal status of online gaming persist."

The move underscores a dramatic global boom in online poker playing. PartyGaming, formed in 1997, now reaps a profit of almost $1,000 every minute as it pulls in revenue of $100,000 every hour of the day.


[Reuters]

The only question is, as the article notes, the legality of providing a service to customers who could potentially be breaking the law in their own country. Other than that, there is almost nothing stopping the growth of online gambling especially poker.

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