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Monday 8th August 2005
The world’s second largest online poker concern has announced that it will move its base from Costa Rica to the Isle of Man, off the coast of Britain.
PokerStars is believed to be contemplating a stock market flotation, on the London Stock Exchange where a number of other online gaming companies have already floated.
The group, owned by the Israeli Scheinberg family, has received a license from the Isle of Man government and intends to make the move by the end of 2005. Recent changes to the island’s gaming laws have made it an attractive location to casino operators.
It is possible that PokerStars sees floatation as a route to consolidating its place as a major player in the industry, of which it currently enjoys a 10 per cent market share.
Source: OnlineCasinoNews
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