Poker Investors may Double Their Stack
02nd of September 2005
June 27, 2005 the company that operates the largest poker room on the Internet, PartyGaming, took nearly a quarter ownership of their company and offered it for sale on the London Stock Exchange. While initially potential investors hemmed and hawed over what American gambling laws might do to the price of the shares (trading under PRTY), the company’s Initial Public Offering (IPO) had no trouble selling every last order.
Today, just over a month later, those investors who have held on to their shares of PartyGaming have seen their investment grown by half. A 50 percent increase in one month is a decent accomplishment for any stock, and with the poker fever running hot around the world, the sky might be the limit for this and other gambling investors.
PartyGaming was already a wealthy company, and the IPO didn’t hurt. Four company members, Anurag Dikshit, Ruth Parasol, Russ de Leon, and Vikrant Bhargava, make up a third of the top 12 gaming billionares, according to Forbes magazine.
