Poker.co.uk

Poker Info
DATE: May 26 2012
TIME :

Poker.co.uk - Poker news archive

The Gambling Network

Poker.co.uk - Poker News Archive

Friday 29th December 2006

PartyGaming Empire Strikes Back

Online gambling firm PartyGaming has confirmed it is to buy the gaming assets of rival firm Empire Online for �19.2 million, in a deal that will see the company take charge of sites such as Noble Poker and Club Dice Casino.

Empire stated that the recent crackdown on internet gaming in the US (UIGEA), where most of its business was based, had made it impossible for it to stay independent. Earlier this week, the company�s major shareholder Noam Lanir sold his remaining shares to PartyGaming for $40 million.

PartyGaming has also announced that it is acquiring the gaming assets of Intercontinental Online for around �14 million, and expects both deals to boost earnings by more than �4 million.

'These acquisitions represent excellent value for our shareholders and are consistent with our strategy,' said PartyGaming chief executive Mitch Garber.

'The addition of a number of well-known secondary brands will provide opportunities for cross-promotion, increasing customer choice and satisfaction and maximising the long term value of current and future players.'

PartyGaming bosses can also look forward to a �42 million windfall after the company restructured its management incentive schemes to open up tens of millions of new share options.

Source: OnlineCasinoNews

View Similar Stories
Empire Wins $250m Payout from PartyGaming
888 Joins PartyGaming in Talks With US
Empire Poker Sale Hits Q1 2006 Revenue
PartyGaming wins jackpot of �5 billion
SportingBet and Empire Online Fail to Reach Agreement

Discuss this story in the Poker Forum. Last 5 Posts:
Saturday 26^th May, 2012: Party Poker and William Hill (iPoker) BAP
Friday 25^th May, 2012: One way poker Swapsies
Friday 25^th May, 2012: New Bap - Day 3
Friday 25^th May, 2012: WSOP Fantasy Draft 2012
Friday 25^th May, 2012: Sharkscope

Poker.co.uk is part of The Gambling Network | Terms and Conditions | Privacy Policy | Contact Us | Gamble Aware

Poker.co.uk is operated by InTouch Poker Ltd (hereinafter called the "Company"), a limited liability company with registration number C44236, registered in Malta (a member of the EU since May 2004). The Company’s registered address is at Vincenti Buildings, Suite 623, 14/19 Strait Street, Valletta VLT 1432, Malta. The Company operates the Poker.co.uk online poker room under a provisional license issued and regulated by the Lotteries and Gaming Authority ("LGA") of Malta (issued on 2 December 2008, number LGA/CL3/412/2007). The software used for operating the Poker.co.uk online poker room is licensed from Boss Media Malta Poker Limited. Our services are not available to residents of the United States, US Virgin Islands, US Minor Outlying Areas or Turkey or any other jurisdiction that legally prohibits its citizens from engaging in online gaming.