News > Archive > 2006 > December > Giant Online Casino Deal Is On Its Way
Giant Online Casino Deal Is On Its Way
7 Dec 2006
Nothing is closed, yet, but it sure seems that a giant deal involving two of the biggest online casino sites in the world is on its way. The two companies still haven't signed the deal, but they have both confirmed to reporters that there are ongoing talks of a possible takeover, which according to them would take the online casino industry "into the right direction". The rumors of the 700 million dollar deal have already made the company's share to jump an impressive eight percent in the London Stock Exchange, just one day after the announcement.
This deal surely comes at the right moment for the whole online gambling industry, after some time of uncertainty and a relative slowdown, which was caused by the US Congress' Unlawful Internet Gambling Enforcement Act. As a consequence of the bill, experts and analysts all over the online casino world expected a series of consolidations, which are indeed taking place. This deal, if signed, will definitely be the largest consolidation so far, maybe even signaling a revival of the whole online casino industry.
Just days ago the reports had this online casino company in talks with another huge online gambling company, in a deal supposedly much larger. However, the deal never got to the signing point and probably will never get there. The online casino company majority shareholders preferred the actual deal over the latter and it seems that the final details will be closed in the next days, or even in the next hours.
$850
