ONLINE poker group 888.com is set to launch its Pounds 700 million London stock market flotation next Thursday in a move triggering massive windfalls for its Israeli founders and British chief executive, writes Jim Armitage.

Boss John Anderson, formerly of Ladbrokes and also head of the Burford property group, is likely to scoop shares worth at least Pounds 7 million from the float while the Shaked and Ben-Yitzhak families will, on paper, pick up about Pounds 630 million.

Although 888 owns the Pacific Poker brand, two-thirds of revenues come from other games such as blackjack and roulette. Annual profits from its brands, which include Casino-on-Net and Reef Club Casino, are thought to be running at about Pounds 100 million.

HSBC is sole book-runner on the float while Panmure, Bridgewell and Numis are co-lead managers.

Meanwhile, the world's number two internet poker room, Pokerstars.com, is said to have appointed NM Rothschild with a view to a possible float.

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