Online Casino Operator Gets Ready to Float

Cassava Enterprises, the world's largest Internet casino operator, is soon to float on the London stock exchange according to media reports.

The Financial Times reported that Cassava is working towards a September 1 launch date and the IPO is expected to value the group at around £700m ($1.3bn)

HSBC will be the sole bookrunner on the IPO managing the stock in conjunction with brokers Panmure, Bridgwell and Numis. The firm, which has over 20 million subscribers, is based in Gibraltar and will be listed on the London Stock Exchange.