PartyGaming share plunges 30%

Empire Online founder Noam Lanir: It’s clear that the phenomenal growth rates in the online poker industry won’t continue forever.

Today, PartyGaming (LSE: PRTY), which operates the world’s largest poker website, announced that its growth rates were falling. The company then lost $4 billion off its market cap within minutes.

This decline is liable to affect the IPO of 888.com, owned by the Shaked brothers and Ben-Yitzhak brothers.

Sources previously predicted that Party Gaming would make a counter takeover bid for Empire Online Ltd. (AIM: EOL).

Empire Online founder Noam Lanir said, “It’s clear that the phenomenal growth rates in the online poker industry won’t continue forever.”

"Globes" has learned that PartyGaming co-founder Ruth Parasol has Israeli citizenship, and occasionally visits Israel.

Published by Globes [online] - www.globes.co.il - on September 6, 2005

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