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Online Casinos Group Sees Drop In Share Price


Online casinos 888 and Party Gaming will still float on the stock exchange even though some uncertainty in the online casinos has caused the stock price to drop somewhat. Because Party Gaming's stock has taken a recent dip on the market this has also had an affect on the 888 online casino. Initially it was thought that the stock of the online casinos could hit the market with a total value of anywhere from $1.36 to $1.59 billion. This number was recently revised to reflect the drop in Party Gaming stock and is more realistically estimated to be worth anywhere from $989 million to $1.29 billion when it hits the stock exchange.

Cassava Enterprises is estimating possible deals to hit on September 29th of this year when they float the London Stock Exchange. There has even been some speculation that the float for 888 Holdings, the parent corporation of the online casino itself may in fact hold off on the stock float due to its poor performance recently.

The online casinos operator, 888 Holdings, hopes to make $321 million later in September when it floats the stock. Ultimately they plan to sell 25% of their stock.

 

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