|Cassava Enterprises is soon to float on the London stock exchange according to media reports. The internet poker and casino operator is estimated to be worth in the region of £700 million ($1.3bn) and plans to float as early as next month. |
It was reported by the Financial Times that Cassava might even be aiming for September 1st, with HSBC managing the stock in conjunction with brokers Panmure, Bridgwell and Numis. The firm, which has over 20 million subscribers, is based in Gibraltar and will be listed on the London Stock Exchange.
Cassava is co-owned by two Israeli families, the Shakars and Ben-Yitzhaks, and runs an impressive portfolio of sites which include 888.com, Reef Club Casino and Pacific Poker.