February 12- The legal dispute between online poker groups Party
Gaming and Empire Online is nearing a conclusion, according to an statement
issued to The London Stock Exchange. This comes in the light of Empire rejecting
Party Gaming's latest buyout offer...
In the statement, Empire Online said that it is now in advanced discussions
with Party Gaming with respect to a settlement of its litigation claim in
relation to Party Gaming not granting it a license to continue operating as a
"skin".
The statement came after rumors gained strength this week that the ‘skins
separation’ legal dispute between the two companies was on the verge of being
resolved.
Tumors in the market was that Party made an initial offer of over GBP 200
million, which was rejected by Empire.
Empire is suing Party Gaming for US$1bn in damages following Party Gaming's
unceremonious "dumping" of its skins. According to Empire this was a breach of
contract.
Empire Online share rose by more than 10% to 129p this week.
Click to visit
Empire Poker or
Party Poker.
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