| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Online Gambling Companies Reach Impasse
- Wednesday, 23 Nov 2005
It appears that talks between Party Gaming and Empire Online have broken up, thus possibly nixing Party Gaming’s plans of purchasing the rival online casino operator. Empire Online was the first to announce negotiations have reached an impasse. The online gambling operator has also taken legal steps as response to Party Gaming intent to disassociate itself from its partnering websites. Before the talks reached a deadlock, the two online gambling company’s had been holding talks for weeks trying to agree on a price.
It is rumored that Party Gaming initially handed Empire Online an offer worth in the excess of 400 million pounds. The offer was later revised by the online gambling site to 60p a share, given the recent tumble that Empire Online has taken in recent weeks. The latest offer extended by Party Gaming’s is believed to be worth 175 million pounds in total, which is substantially lower than what the online casino had in mind. Another online gambling company by the name of Sportingbet has reportedly offered 750 million pounds several weeks back. If Empire Online did actually receive such an offer, then why did they continue to negotiate with Party Gaming?
Empire Online spokesmen commented on the recent events saying, “The directors of Empire Online have explored whether legal action might be taken. In relation to damage caused to it by the conduct of companies within the Party Gaming online gambling group in separating the poker system used by Party Gaming online casino players from that of its affiliated sites. Having received legal advice, the directors intend to institute and vigorously pursue legal proceedings as soon as possible”. Party Gaming spokesmen shrugged off the threat of legal actions, saying "To the extent that any action is forthcoming, Party Gaming is highly confident of a successful outcome."
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