Party Poker For Sale?
Party Poker has put the sign out on its’ lawn and is currently looking to be bought out. According to a recent article at the Financial Times, Party Poker is looking to be purchased by one of the major casinos in Las Vegas. With a current market cap of 1.23bn British Pounds (USD 2.5bn), the sale definitely won’t come cheap.
Previous rumours had reported that 888.com might be a potential buyer, but 888 refused to comment on this.
An analyst said casinos such as The Mirage and The Bellagio could be interested. ”Online gaming is currently prohibited in the US. However PartyGaming is listed in the UK where EU legislation allows online gaming. It gives the casinos direct online access to the UK market,” the analyst said. When asked about the two casinos, a PartyGaming source said they were interested in holding talks with them.
Party Poker’s (PRTY.L) shares are currently trading at 32.00 GBP.
