Feeds

888 flutter price set

Wanna bet?

Reducing security risks from open source software

888 has reduced the price of its shares ahead of its floatation later this month amid concerns that the online gaming market is running out of steam.

The e-casino today set the price of its shares at between 162p and 212p a share - valuing the company at between £546m and £715m.

When plans to float the Gibraltar-based business on the London Stock Exchange (LSE) were first announced £700m was touted as a fair figure for the business. Now, though, this is at the top end of the company's valuation.

The loss of confidence in online gaming has been spurred by PartyGaming, which floated for £4.6bn earlier this year.

For while PartyGaming recently posted an 81 per cent increase in turnover, it warned that online gambling would not continue its current rapid growth.

As a result, shares in PartyGaming tumbled by a third.

In a bid to inject some confidence ahead of its IPO 888 reported that net gaming revenue in its casino segment grew by 14.2 per cent in the first half of 2005 compared to H1 and predicts that this part of the business will continue to grow.

And while its poker gaming has seen "very strong growth of 226 per cent" in net gaming revenue in H1 05, it also accepts that this is not sustainable. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.