A LEADING online gaming site, Jackpotjoy.com, is in talks with advisers about a possible £100m flotation as it seeks to become the latest firm to capitalise on Britain’s gambling boom.
Jackpotjoy, which runs internet bingo and other “instant win” games, is in the final stages of a beauty parade of potential financial advisers and hopes to make an appointment in the coming fortnight.
Michael Mee, finance director of Gamesys, its parent company, said: “I can confirm that we are in discussions about our strategic options, but I cannot comment beyond that.”
Jackpotjoy, which has a gaming licence from the Netherlands Antilles, was launched in April 2001 and has enjoyed impressive growth. It has more than 500,000 players and pays out over £20m a month in winnings.
While a float on AIM is the board’s preferred option, a sale to a larger gaming group cannot be ruled out. Leisure analysts said that companies such as Sportingbet, Rank and Party Gaming could all be interested.
Jackpotjoy’s bingo and skill-gaming products are seen as the next boom areas for internet gambling after the success of online poker. That could tempt a buyer to pay more than might be raised from a flotation.
