888 and Party Gaming merge
Since the online gambling ban was announced few weeks ago in USA, eGaming companies are exploring merger possibilities and the actual US legal situation may have accelerated strategies in the industry. PartyGaming’s shares have fallen by over 75% in four weeks, and 888 Holdings’ shares fell by 25%.
The Telegraph reported on Sunday that these two online gaming operators, Party Gaming and 888 Holdings, have started preliminary talks about a possible merger to create a new online giant. Party Gaming is the world’s biggest online poker group, while 888 Holding is the owner of one of the most famous and reputable online casinos, 888.com.
Mitch Garber, the chief executive of Party Gaming, is on holiday in Israel, and announced further talks within the next week.
Industry experts report that online gaming companies are now looking to acquire rivals that have a strong European or Asian presence. Party Gaming has also started a deal to buy Gamesys, a well-known and estabilished European operator, and Victor Chandler, an online bookmaker with a big player base in Asia and Europe as well.
Post a Comment