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Monday, October 30, 2006

Party like it's 888

A merger between online gambling giants, Party Gaming and 888 Holdings, is the latest rumor that is probably not so far fetched...

Both Party Gaming and 888 have taken big hits since the signing of the Unlawful Internet Gambling Enforcement Act of 2006 and as both companies decided to pull out of the US. Party Gaming stocks plummeted some 60% and 888 wasn't far off when some $7 billion was wiped out from the industry.

Party Gaming is said to be sitting on a mere £100 million in cash and 888 Holdings is in a similar position so acquisitions are a thing of the past for both companies.

There will be many mergers in the near future as the online gambling space gets smaller. Many small operators will struggle to survive and others will see this as a massive opportunity to become like Party and 888 were before.

posted by Clark Gamble at Party like it's 888

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