July 13 - Party Gaming has announced that it is on the acquisition trail with
the purpose of expanding into the sports betting market. The online poker giant
will fund acquisitions through the proceeds of a bond issue that may yield as much as £500m...
And rumors are that the first acquisition will be a private European sports
betting operator, but it will be a relatively small deal. In the light of
recent concerns surrounding the future of online gambling in the US, Party
Gaming's share price took a hit. Party has also responded to these concerns and
made it clear that they will not accept bets from US customers, a similar stance
to other UK based companies like Ladbrokes.
The success of the Soccer World Cup for sports betting operators has given
Party more than enough reason the explore the sports betting market. Combine
this with a massive customer base on their books, and it makes perfect sense to
diversify. Many poker operators also reports a drop in activity during the
Soccer World Cup, which adds further impetus to the strategy.
Sports betting will continue the diversification of PartyGaming after they
successfully , after introduction of an integrated blackjack game and the launch
of their backgammon site.
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