| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Gambling Operator Buys Out Partners
- Sunday, 20 Nov 2005
Online gambling giant PartyGaming appears to be expanding its empire. The company has taken over two of its partnering online gambling site, severed ties with a third one and is currently involved in talks to purchase its forth one. The online gambling operator has agreed to pay a sum of $14.5 million to buy out Multipoker and an additional $4 million for IntertopsPoker. PartyGaming intends to assimilate the player pool shared by both online gambling sites and unite it with its own, which comes to 300,000 new players.
Besides adding new players, PartyGaming engineered the move to purchase Multipoker in order to gain ground in the Scandinavian market, where the online gambling site had a loyal fan base. As soon as word got out regarding PartyGaming expansion, the online gambling operator has seen its share rise by 1.6%, raising the overall value of PartyGaming to 3.7 billion pounds. In another move, PartyGaming ended its long lasting partnership with Coral Eurobet that is set to introduce a new gambling software platform.
Chief Executive of the online gambling operator Richard Segal says, “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”. | |
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