“Israeli Gaming Firms Join London Stock Exchange”

888Casino.com and Empire Online are the latest internet gaming firms to announce plans to float their companies on the London Stock Exchange.

888Casino.com owners, the Ben Yitzchak and Shaked families, have indicated their company will float at 1.6 billion dollars while Empire Online will float at one billion dollars. Noam Lanir, owner of Empire Online, has stated the company will join the London Stock Exchange in June.

Empire Online’s entry on to the Exchange was given an extra boost when Lanir hired Numus Securities as the company’s underwriter. In addition, the company’s chairman Lord Leonard Steinberg has had a distinguished career in the UK gambling industry since 1955 when he first established the firm Stanley Leisure. Empire Online has also employed the Tamir Fishman brokerage based in Tel Aviv to manage its Israeli investors.

Chief Financial Officer at the Tamir Fishman brokerage, Mr Levanthal, believes Empire Online’s company valuation of one billion dollars is firmly on target based on its phenomenal success and healthy profit margins. Citing a high turnover and steady growth as the factors responsible for Empire Online’s success, Levanthal emphasizes the unique opportunity available to investors. He also believes that Empire Online is one of the most modern internet companies offering the greatest potential for high profits.

Last year Empire Online’s profits totaled $37.7 million on a turnover of $65.2 million. Noam Lanir has predicted a profit of $66 million on a turnover of $100 million in 2005.

Empire Online’s successful marketing strategies have been responsible for attracting thousands of gamblers to online gambling sites. As a result of this, companies such as Pacific Poker and 888Casino.com have also benefited from Empire Online’s innovative approach.

Perhaps Mr Levanthal sums up Empire Online’s success the best. “Looking at the company and leaving out the stigma, it’s astonishing,” he says. “Empire Online is a highly interesting company.”