The majority owners of PokerStars.com have announced plans to part with their stake in the world's second-largest online poker site. Poker Stars, which was founded, and is 75% owned, by the Israeli Scheinberg family, has enlisted NM Rothschild, a large reputable merchant bank in London, to either sell or float the company in an IPO, in the hopes of receiving more than $2 billion.
Isai Scheinberg's venture into the world of online poker followed his career as a senior programmer for IBM in Canada, where he and his family now reside. Since the company's founding in 1999, he has run Poker Stars with the help of his two sons. The remaining 25% of the company is owned by Poker Stars employees.
Potential buyers of Poker Stars include Rank Group and William Hill, gambling companies better known for their bingo halls and sports betting, respectively. If Poker Stars floats in an IPO, however, it will likely choose the London Stock Exchange as its venue, following in the footsteps of many gaming companies, including PartyGaming, currently the largest virtual poker operator.
In addition to the potential sale or flotation of the company, there is also the possibility of a merger with 888 Holdings, an Internet casino company owned by the Shaked and Ben Yitzhak families, also of Israel. Such a merger would send shock waves throughout the poker world, as 888 Holdings would gain an even larger share of the online poker market, adding to the already substantial player base registered on its own poker site, Pacific Poker.
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