Casino on Net Prepare for Stock Floatation – March 6th, 2005
Cassava Enterprises the parent company of 888.com, Casino On Net and Pacific Poker are moving to float on the London FTSE at some point during 2005. Cassava with their brands 888.com and Casino On Net operate the largest ( In terms of players – numbering over some 7million registered customers ) online casinos in the world.
A couple of years ago in 2002, Cassava moved their operating base lock stock and barrel from the island of Antigua to the World’s Offshore Gaming Capital Gibraltar with the sole purpose of floating the business in a few years later.
Recognised throughout the Online Casino Industry as the dominant heavyweight when in comes to marketing their casinos online, Cassava have been orchestrating to raise awareness of their brands in the United Kingdom.
As such they have taken out shirt sponsorship of English Premier League Soccer Team Middlesbrough FC and have also taken out extensive advertising on the London Underground. Subsequently they have also turned their attention to the lucrative UK online casino market, whereas in the past Casino On Net & 888.com have made the North American Casino Market their number one priority.
If and when Cassava float during 2005, this will give the group additional money to strengthen their current brands of 888.com Pacific Poker and Casino On Net.
Many other Online Casinos are watching with interest as to how this will unfold. As currently at the moment many casino sites and poker rooms are envious of Cassava’s Marketing Budget but should they float this year, this will put clear distance between Cassava and their competitors. Hopefully they will also use some of the monies gained from a floatation towards further developing their In-House casino and poker software.
