Online gambling firm confirms deal

29 December 2006

LONDON, England -- As reported by the (UK) Guardian: "PartyGaming today snapped up the gambling assets of its smaller rivals Empire Online and Intercontinental Online Gaming for $66.3m (£33.7m) in shares.

"The acquisitions will add Empire's Noble Poker and Club Dice casino websites to PartyGaming's stable, as well as Intercontinental's Fair Poker, Magic Box Casino and Miss Bingo sites.

"The two deals are expected to be the first in a wave of consolidation in the wake of US anti-gambling legislation passed in October.

"...Mitch Garber, PartyGaming's chief executive, had previously made it clear that the company was on the prowl for smaller targets following the US crackdown..."

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