Thursday, June 02, 2005

Party and Empire Float Bonanza

So, Party Poker and Empire are both going for public share listings in London.,3604,1497642,00.html?gusrc=rss

The Party Poker quarterly figures are truly astounding. In the first three months of this year they made a PROFIT of $128 million on REVENUES of $222 million. Therefore profit is more than 50 percent of revenue.

The company has only 1100 employees, yet a projected market value of $10 BILLION dollars. Roughly $9 million per employee.

Think about those numbers the next time you are raking a $50 pot and seeing two dollars rake disappear. About $1.15 of that rake is pure profit to Party.

With numbers like that, I think we can expect the bonus boom to continue for a while yet.

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