News > Archive > 2006 > June > Online Casinos and Probability Games Firm to Float
Online Casinos and Probability Games Firm to Float
8 Jun 2006
In the latest floatation news to reach the online casinos industry, Probability Games, a UK-based skill games and online casinos operator, is predicted to go public later this year. The news was announced by the firm's CEO, Charles Cohen, in an interview with EGR this week in London. The online casinos boss stated that the IPO could value his company as high as 30 million pounds sterling.
Cohen also confirmed that he has appointed Evolution as the brokers responsible for guiding the firm towards a September IPO on London's Alternative Investment Market. The online casinos firm intends to raise an extra 10 million pound sterling in order to fund further expansion into the online casinos industry, including the promotion of its transaction processing venture known as Cashish. The online casinos firm's decision to go public was relatively simple, according to Cohen, who has said that "a lot of interest remains in gaming and mobile applications generally."
Probability was recently awarded the first mobile gaming license to be issued by Alderney in the Channel Islands. The online casinos firm states that up to 10,000 customers enjoy playing its various products each month, generating a turnover of approximately 1.5 million pounds each month. The firm recently appointed ex-chief executive of Arena Leisure, Graham Parr, to the position of chairman. Parr has a solid background in the online casinos industry and is expected to bring valuable experience and depth to the firm's board.
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