PartyGaming, an online casinos poker site leader, has officially made a 'preliminary approach' to Empire Online to acquire the online casinos king. According to press reports from the U.K., PartyGaming could offer up to GBP 400 million, but many leading analysts are doubtful.
A spokesperson for PartyGaming stated the following: 'There can be no certainty that any agreement will be reached. Any offer proposal would depend upon, in particular, PartyGaming being satisfied as to a number of material pre-conditions, including due diligence and the prospects for Empire's business.' However, Empire's side of the story sounded different. Now that PartyGaming is fully catering to their online casinos players frequenting their main online casinos site, Party Poker, and has also moved away from its affiliate 'skin' sites, it seems ready to make this large acquisition. It would, according to industry experts, be considered a significant move in the ongoing consolidation of the industry.
Though the acquisition is still only in stages of discussion, the mere fact that a major online casinos operator has approached Empire Online has caused the shares to rise by a nine percent increase, adding GBP 25 million to a market capitalization that now exceeds GBP 365 million. Online casinos fans can only be patient and see how the negotiations and discussions will unfold.
