Gibraltar-based Cassava Enterprises has confirmed rumors that the company will launch a flotation this month for online casino 888.com. As rumored, HSBC will be the exclusive bookrunner, sponsor, and global coordinator for the float.
Despite concerns over the competition in the stock market, Cassava is unconcerned. They said that unlike companies such as PartyGaming, which focus primarily on poker, a market which some suspect may be close to its peak, 888 focuses on casino games such as roulette and blackjack. Roulette has become one of the market’s most popular games recently, with a lot of attention given to online roulette by the online gambling market.
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