More Acquisition Rumours
Published: Sunday, November 05, 2006 Online-Casinos.com
MORE ACQUISITION RUMOURS
With all the scuttlebutt, everyone is wondering exactly who is buying who....
Hard on the heels of earlier reports in the UK media that Ladbrokes was making acquisition overtures to Party Gaming and other major online gambling groups (see previous Online-Casinos.com/InfoPowa bulletins) comes news from Reuters that PartyGaming is in talks to buy part of Internet betting company bwin.com of Austria.
The Reuters report quotes an "unnamed source close to the talks" as saying: "It is a logical extension from PartyGaming buying Gamebookers in August."
PartyGaming bought online sports betting business Gamebookers (soon to be re-branded Party Bet) from Trident Gaming Plc for Euro 102 million ($130 million) and is apparently also looking at other deals, including smaller online bingo and casino operators, the source told Reuters.
PartyGaming was recently alleged to be in talks to buy fellow online gambling operator 888 Holdings. 888 subsequently said "it has had various preliminary discussions with third parties following suspension of its U.S. activities," but didn't say with which firm and added that there's no certainty a deal will be reached.
Last Saturday, The Financial Times reported that Ladbrokes has held preliminary talks with 888 Holdings and PartyGaming and "is understood to be taking an interest in some of Austrian-based Bwin's operations."
The transaction talks come in the wake of the U.S. legislation banning Internet gambling financial transactions for American players.
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