Building an Online Casino Empire
Ever since Party Gaming has issued its shares on the London Stock Exchange, online casino industry analysts have suggested that it won’t be long until the company made a move to purchase Empire Poker. It turns out that they were right on the money. Earlier this week, Empire Poker ended speculations confirming that they have indeed received an offer from Party Gaming. The offer comes in the heels of the split between Party Gaming and its affiliate skins adopting a platform dedicated entirely to the online casino poker players of the company.
In Empire Poker’s official announcement there was a clear reference to “the entirety of its shares to the London Stock Exchange”, suggesting that Party Gaming online casino company will be the majority share holder. This is quite puzzling considering Party Gaming’s press release suggesting that nothing is yet done and no deal has been signed as of yet. Given the mixed singles, a spokesman for the online casino tried to clarify things saying, “Any offer proposal would depend upon, in particular, Party Gaming being satisfied as to a number of material pre-conditions, including due diligence and the prospects for Empire’s business”.
It is rumored that Party Gaming’s offer was worth more than 400 million. However, online casino industry experts believe that the offer couldn’t have been this high, suggesting that it’s considerably lower. If the online casino company does in fact take over Empire Poker, would be a positive step in the ongoing attempts to consolidate the online gambling industry.