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| | | November 6 - First, leading online gambling company PartyGaming Plc expressed an
interest in buying fellow online gambling group 888 Holdings and now large
UK-based gaming group, Ladbrokes has confirmed that it too is interested in
buying the group for an estimated $890 million.
Ladbrokes conformed its interest in acquiring 888 Holdings through a press
release issued last night saying that it was in the 'early stages' of
investigating a possible transaction with the online gambling group.
888 confirmed last week that it was in discussions with several
potential 'merger partners'.
According to industry analysts, 888 would benefit more from striking a deal with
a traditional gambling group such as Ladbrokes, as opposed to another online
gambling group such as PartyGaming which has also been greatly affected by the
recent crack-down on online gambling in the United States.
In fact, up until the US introduced an anti-online gambling law last month, PartyGaming was the world's
largest online gambling company. However, times are not so rosy demonstrated
when the company retrenched 800 customer and technical support staff in
Hyderabad, India last week, with more retrenchments expected.
While
888's share price also suffered following the passing of the
Unlawful
Internet Gambling Enforcement Bill in the US, it has fared better than
many of its competitors, its share price is down by only 27 percent.
PartyGaming owns and operates
PartyPoker.com while 888 owns and operates
Casino-on-Net.
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