Online casino poker giant Party Gaming is planning to take over two of its four affiliated online casinos Multipoker and Intertops Poker. The online casino company has agreed to pay $14.5 million for Multipoker, while shelling out $4 million to purchase Multipoker and Intertops Poker. By purchasing these two online casino sites, Party Gaming has essentially added 300,000 new account holders. Once word of the intended purchase was out, the online casino has seen its share rise up 1.6 percent, setting the value of the company at 3.7 billion pounds.
Party Gaming has also severed ties with its third business partner Coral Eurobet, as the online casino prepares move its existing players to a different platform than the one being used by Coral Eurobet players. Party Gaming Chief Executive Richard Segal explains, "We now look forward to the launch of the Party-branded integrated platform in the first half of 2006, when we will expand the number of online casino games available to our customers".
Party Gaming is also in the midst of negotiating the purchase of their fourth partner which is Empire Online. By merging Empire Online account holders with Party Gaming's, the online casino company will dominate a considerable portion of the online gambling market. Party Gaming was estimated worth was measured at 4.6 billion pounds in July. Now it has skyrocketed to more than 6 billion.
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