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Internet Company is Moving Out. 2005-08-04
One of the world's biggest internet poker companies will announce that it is moving its business to the Isle of Man. This is in the wake of a possible stock market flotation. The group is becoming one of several gambling companies seeking a possible London set up. This is in competition with other internet poker organizations, and is trying to fight this out.
Currently the company is based in Costa Rica, but is trying to move, that�s where the Isle of Man comes in. The company has secured a license from the local government and plans to move there later this year. Now bringing company executives is next on the list. So far they have appointed headhunters to find that chief executive to run the company from the island.
Another key factor for the move was January�s rule change barring companies from accepting casino and poker bets from America. Not all American places concur on whether or not internet gambling is a completely legal. IPO analysts believe the move is a good idea, and will provide better results for the poker company.
(By Andrea)