Internet Casinos in search of a union
Towards a redistribution of the charts? The on-line poker site, PartyGaming, is in discussions with its British counterpart, number three of the sector, 888.com, for a fusion. The marriage would consolidate the place of PartyGaming, the main competitor of the world leader Sportingbet, with 1,2 billion dollars in sales turnovers (980 million euros) and a stock exchange capitalization of 2,4 billion euros.
PartyGaming did not want to comment on this information. A little more prolix, 888.com however indicated to be in preliminary discussions with third parties without having the certainty that these discussions will lead to an offer. Thais does not escape from any of the observers because of the hardening of the American legislation, which introduced a prohibition of the gambling sites in the United States and weakened an activity up to that point flourishing.
PartyGaming, which in the first half of 2006 had the three quarters of its sales on the other side of the Atlantic, lost more than half of its stock exchange capitalization which had reached in June 2005, after its introduction to London a stock exchange, a capitalization higher than that of British Airways. On its side, 888.com, carried out more than half of its sales to the country of the Uncle Sam. For the two companies, safety comes from the repurchase of competitors or an establishment to Asia where the legislation is much more flexible. The situation in the European Union is different, each Member State organizing the gambling industry as it wants.
For PartyGaming, the purchase of 888.com would be the second acquisition in less than one year after that of Gamebookers, a bets site in Antigua and holder of a licence in Gibraltar. In France, this company made a partnership agreement with Football Club of Nantes. Its name was reproduced on the front of the shirt of the Canaries until September and was withdrawn after the arrest of two of the officers of the on-line gambling company BWin, sponsor of Monaco. French justice accused them to have infringed the regulation in force. In this unfavorable context, other actors would be in talks for marriage. SportingBet and the Austrian BWin would also consider linking their destiny.
Marcus Laval is a senior analyst with an experience of more than 20 years, who has written more articles and published them at Press Centre |
|
|
