Is Jackpot Joy on the IPO trail too?

18.07.2005

For the past several months, especially when Party Gaming was on the run-up to its successful IPO in London, there has been media speculation that other major Internet gambling companies like 888.com (Casino On Net) and Betfair will be going for public listings.

This week a new name emerged following news in the Sunday Times which reported that Jackpotjoy.com is in talks with advisers about a possible GBP 100 million flotation on the London stock market as it seeks to become the latest firm to capitalise on the online gambling boom.

Jackpotjoy, which runs internet bingo and other "instant win" games, is in the final stages of assessment by financial advisers and apparently intends to set a date over the next two weeks.

"I can confirm that we are in discussions about our strategic options, but I cannot comment beyond that," the finance director at parent company Gamesys, Michael
Mee, reportedly told the newspaper.

Jackpotjoy is licensed in Curacao, Netherlands Antilles. The site was launched in 2001 and claims it has 500,000 players on the books and pays out over GBP 20 million a month in winnings.

While a float on AIM is the board's preferred option, a sale to a larger gaming group could not be ruled out, The Times said.