Place your bets now as Lanir's Empire Online prepares to float

Israelis may find themselves barred from gambling on the betting Web sites marketed by Israeli Naom Lanir, but they will all be invited to invest in his company Empire Online when it floats on the London Stock Exchange at an estimated value of $1 billion.

The company, which develops marketing techniques for online casinos, is expected to float its shares in the first two weeks of June, and Numis Securities, handling the issue, has granted Israeli investment house Tamir Fishman exclusive rights to the Israeli share distribution. Tamir Fishman expects to issue share packages of up to $50 million.

Empire Online completed its road show to British investors this week and Lanir, 38, is expected to arrive in Israel for a similar roadshow for local institutional investors.

"It's a golden opportunity for Israeli investors to take part in one of the most interesting companies in the Internet field today," said Daniel Leventhal of Tamir Fishman. "If you look at the company, and ignore the stigma for a moment, there is something amazing here. It's a very interesting company with high revenues, vast profits and strong growth."

Registered in Cyprus, Empire Online has 60 employees. Though full details have not yet been released, its annual revenues are estimated at $100 million with net profits of $50 million.