The world’s largest online casino today valued its flotation as high as £714m (€1.1bn), in the latest test of London City’s appetite for internet gaming stocks.
Shares in 888 Holdings are being offered to investors within a range of 162p to 212p, which will value the company at between £546.1m (€811.7m) and £714.6m (€1.1bn).
It confirms the flotation remains on track, despite the recent warning from poker giant PartyGaming that growth is slowing in the sector, which sent shares in online gaming firms into a tailspin.
Conditional dealings in shares in the company are expected to begin on September 29, with trading being opened to retail investors five days later.
Updating the market on current trading, 888 said its net gaming revenues from its main casino operations grew 14.2% in the first half of this year.
Revenues from poker surged 226% in the same period, and directors of 888 stuck by their expectations of further growth and market share gains even if this rate slows.
The firm owns 888.com, and websites that attract more visitors than rival online casino operators, and the flotation will bring a windfall for its two controlling Israeli families.
Avi and Aharon Shaked are said to own about 70% of the company in a family trust, with the Ben-Yitzak family holding 30%.
More than 20 million people are registered to use its portfolio of websites that also include Casino-on-Net, Reef Club Casino and Pacific Poker.
Casino-on-Net allows customers to play on a private table, a public table or on a group table with up to two friends, and players can communicate with each other during the game using a “chat box”.
Chief executive John Anderson said: “As one of the world’s most popular online gaming companies we have a very strong story to tell in respect of our position and our future strategy for growth.
“As a business, we have traded profitably over many years and I am delighted to report continued strong current trading.
“In particular, the growth in the casino segment is very encouraging, given that historically trading results for the casino in July and August are the weakest for the year.”