Bookmark Us
Poker News :: Online Poker News

Merger Between PartyGaming And 888 Likely

Big gaming names PartyGaming, operator of PartyPoker.com, and 888 Holdings, operator of 888.com, are in the middle of talks about a possible merger.

Both PartyGaming and 888 have watched their share prices go drastically downhill after the US introduced a new law that bans most forms of online gambling.

A statement to the London Stock Exchange says: "The board of 888 notes the recent press speculation and confirms that it has had various preliminary discussions with third parties following suspension of its US activities.

"There can be no certainty that these discussions will proceed to an offer being made for the company or indeed any other action."

Gambling and gaming websites are looking for ways to bring their businesses back on track after the US government took away a big part of their market. The prices of shares in the gaming and gambling sector have dramatically collapsed, making mergers a very feasible move for companies.

Meanwhile, Tessa "the Don" Jowell of the United Kingdom has spoken out about the issue, saying that the outright ban might create the problem of a gambling black market in the US. A conference tackling the issue will be held first week of November to be hosted by the Department of Culture, Media and Sport.

laws are like Prohibition - when the US banned booze. Jowell said the outright ban would create the equivalent of speakeasies - the illegal drinking dens of the 1920s.

 

November 13, 2006
Michael Orwell

Exclusive Deposit Bonus Offer
Recommended Poker Rooms