After months of rumors, it appears that the much speculated upon
public listing by Pokerstars is off. The Independent reports that
the world's second-biggest online poker company after PartyGaming,
has shelved plans for a GBP 1.6 billion (Euro 2.3 billion) London
flotation until early next year.
Bankers at HSBC and Dresdner Kleinwort had been working towards bringing PokerStars, which is 75 percent owned by the Israeli Scheinberg family, to investors in the spring.
A flotation is not now expected until 2008, if at all. PokerStars, which moved its operations to the Isle of Man last year, had previously worked with the investment bank NM Rothschild on a possible sale to a rival tht did not materialize.
PokerStars has not decided yet if it will pull out of the US market following the online poker crackdown in the US. In a statement made on the two plus two forums, PokerStars poker room manager Lee Jones said:
1. Your money is completely safe at PokerStars. It's kept in a segregated account at one of the largest banks in Europe.
2. You do, and will, have 24/7 access to your account funds. You will always be able to get to your money.
3. We have not made a decision one way or another as regards closing our American accounts.