|
|
|
| | |
 June 29 - A reputable British newspaper has reported that online casino group,
PartyGaming, which was successfully listed last year on the London Stock
Exchange (LSE), is about to reveal plans to enter the rapidly growing and
highly lucrative online sports betting arena.
PartyGaming, which owns and operates
PartyPoker.com, one of the most popular online
poker rooms on the Internet today, is set to begin a series of 'sports betting'
acquisitions funded with proceeds generated from the issuing of ?500 million
worth of bonds.
The newspaper revealed that the first acquisition is slated to be a small
privately owned European online sports betting concern.
While the scale of the 'acquisition proceeds' may raise a few eyebrows
amongst PartyGaming's shareholders, the move will clearly show the level of commitment from newly
appointed CEO, Mitch Garber, to expand the company's online gambling interests
as well as reduce risk to shareholders by diversifying earnings.
On the downside however,
PartyGaming is expected to not to except online sports bets from online
gamblers based in the United States, in order to minimize potential
confrontations with the anti-online gambling fraternity.
With around 80 percent of its business generated from online gamblers based in
the United States, the PartyGaming share price has fluctuated since its listing
due mainly to the US government's attempts to ban online gambling in the United
States.
Visit PartyPoker today!
| Related Articles:
| - Online Casino Giants Battle it out for Mac Players
- Shock as England and Brazil out of World Cup
- World Cup Soccer Weekend Betting Update
- Thai Online Soccer Betting up by 50 Percent
- Online Casino Group to offer Backgammon
- 2005 WSOP Winner a Marked Man
- Online Gambling Law Raises Doubts
- World Cup Boosts Online Casino Action
|
 |
|
|
