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Tuesday 22nd August 2006
PartyGaming Plc looks set to follow its recent £69 million acquisition of Gamebookers by targeting the Victor Chandler Group as its next strategic buyout in the expansion of its non US operations.
PartyGaming, which operates PartyPoker.com, is believed to be one of three potential suitors looking to acquire the online gambling company, although the identities of the other companies are as yet unknown. The Victor Chandler Group operates a large part of its business in the Asian market and does not take bets from the US, making it a viable option for PartyGaming’s strategic development.
Neither group has officially commented on the bid, but reports have been circulating, that negotiations could begin as early as September. The corporate finance firm Zeus Capital has been brought in by the Victor Chandler Group to evaluate the offers.
The Victor Chandler Group operates a sportsbetting business together with an online casino and its own online poker brand and has a current £1.4 billion turnover.
Source: OnlineCasinoNews
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