Empire Poker has become the second member of the Party Poker network to make preparations for a US$1bn IPO as rumours persist that Party Poker is looking to scale down listing plans.
A report in a UK newspaper said the Cyprus-based owner of Empire Poker, Tradal, had retained investment bank Numis in preparation for a potential US$1bn flotation.
Industry sources have reported Party Gaming could be looking for a partial listing.
Sources have suggested the firm could look to make as little as 25% of its stock available to the public market.
But despite this the firm would still be expected to raise more than US$1bn, as the total value attached to the firm is in excess of US$5bn.
Tradal is predominately an online marketing specialists, but it began life as a poker operator in 2002 when it launched Empire Poker.
It has grown rapidly since that time and is now regarded as one of the largest poker operators on the internet.
Estimates of the size of Empire Poker are not available, but it is believed it could comprise as much as 20% of the Party Poker network.
Software and payment processing for Empire are provided by Party Gaming, but the two firms are not affiliated companies.
Tradal also conducts online marketing for online casino giant Cassava, which has also been linked with a US$1.6bn IPO.
A spokesman for Party Gaming was not willing to comment on the its listing plans, and said it was still considering options beyond an IPO.
Representatives for Tradal were not available for comment.
source : egr magazine
