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Poker was not invented yesterday, it’s an old game that just recently received a face lift, an attitude adjustment and eye opening glimpse into the professional world of poker. Since 2001, playing poker for money has been available online through the internet, however, just recently it has become more popular than Britney Spears. |
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In fact, in 2004 online poker has grown by over 600% and in 2005 Party Poker is predicting the market will continue at this rate over the next 12 to 18 months. With this in mind, Party Poker has been rumored to be going public on the London Stock Market sometime within the year. PartyPoker.com accounts for more than 50% of the entire online poker market, and could valued as high as $5 Billion US Dollars when they go public. |
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PartyPoker, which takes a percentage of the total amount staked by punters, known as a “rake”, reported 2004 earnings before interest, tax, depreciation and amortization (ebitda) of more than $350 million, although this year that figure is expected to grow to at least $500 million to $600 million. |
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Since Party Poker has become the leading online poker room, we have decided to take an in-depth look into PartyGaming and PartyPoker.com to find out if they really deserve the title, “the #1 online poker room”. |
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Party Poker announced its active exploration of a possible initial public offering (IPO) on the same day that the Yahoo! Internet portal announced its intention to partner with peer-to-peer betting company Betfair to offer online wagering via Yahoo Betting. |
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Upon the announcement that Party Poker's parent, Party Gaming, might pursue a public offering on the London Stock Exchange, financial publications speculated the value of the IPO could be anywhere from four billion dollars to even as much as a staggering $10,000,000,000. That later number was based on a comparison to Sportingbet PLC. In October 2004, Sportingbet purchased the (at the time) number three online poker cardroom, Paradise Poker for between 300 and 400 million dollars (depending on performance figures for the next year). At the time of purchase, Sportingbet traded for about 100 on the London Exchange. Only three months later at the time of the PartyPoker announcement, it was trading at 235.
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PartyPoker.com review: Party Poker room review...
 
party poker review
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