Posted by Junelli 12:31 PM PartyGaming (the company that owns Party Poker) went public in London this week. It's market cap is $8.5 Billion which already makes it larger than British Airways.
Get this - It profits $1,000 per minute 24 hours a day everyday (on revenues of $100,000 per hour). That means that net profits are somewhere in the neighborhood of $525,600,000 per year (on gross earnings of $876,000,000). Unbelievable margin.
If that weren't enough, the online gambling market is growing at a breakneck pace of 20% per year.
That is the sickest thing I've ever heard. I wish I had thought it up first. I'd be sitting on my island drinking Pina Coladas while the rest of you scrubs sit at the office.
Random thoughts from a lawyer, an accountant, a commodities trader, an ex-Marine and a WSOP Main Event money finisher that don't know as much as they wish they did...