Online Casino CEO set to make $60 million

The CEO of Cassava Enterprises, owner of online casino, is set to make $60 million when the company floats on the London Stock Exchange next month. This happens just several months after the world’s largest Internet poker company, PartyGaming, floated on the London Stock Exchange in June, awarding the board massive pay outs.

Cassava Enterprises’ initial public offering (IPO) is expected to be worth over $1.5 billion, which in turn will provide an estimated $70 million in gross earnings. HSBC has been hired to counsel the Internet gambling operator on the matter in a hope to follow in PartyGaming’s footsteps. - 2005-08-03 10:50:26

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