Online casino; PartyGaming.com up for sale?
Big news hit the blogs and the news postings of many poker portals and websites over the possible sale of the strongest gambling website brand out there!
Mitch Gerber, CEO of PartyGaming told press that his massive online gambling company, whose online casino arsenal includes online poker, online bingo and sports betting, would like to hear sale pitches from the major Las Vegas groups.
PartyGaming has a built up a market cap of $2.5 billion since been founded in 1997 and has gone from strength to strength by creating their own brands such as PartyPoker, PartyBets, PartyCasino and PartyBingo.
Before the ‘Unlawful Internet Gambling Enforcement Act was passed in 1996, 75% of PartyGaming’s revenue came from the US market. Pulling out from American caused share prices to crash by 60% and the only option was to build up the brands in Europe which has been a success.
888.com, PartyGaming’s rivals, have been rumoured to be potential buyers but in an interview with the CEO, Gerber mentioned that he would like to hear from the major players in Las Vegas – like the Bellagio, MGM and Harrahs.
Hopefully, if a major casino was to invest in an online gambling site, it would make politicians reconsider the UIGEA and it’ll allow U.S casinos direct access into Europe.
If you’re interested in gambling online and you reside in the US or other countries, visit these casino sites that offer both International and American currency, slots or poker games!
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