23 Aug 2006
Party Gaming, a leading gambling company on the World Wide Web, is aggressively pursuing the Victor Chandler Group, a leading online casino operator. Party Gaming, one of the three major gambling companies who have offered unsolicited bids to purchase the online casino firm, is looking to further expand its business away from the US. Acquiring this gambling group would assist them even more since the operator does not accept bets from the US and has a very strong following in Asia.
Zeus Capital, a corporate finance firm, was hired by the gambling company, Victor Chandler, to evaluate the offers it's received. Both gambling companies have not officially commented on the bid, but ‘The Observe’ has reported that sources have said negotiations may begin in September of this year. Known for its great sports betting, it is easy to understand why Party Gaming would want to buy out this gambling giant.
Because the gambling industry on the Internet is growing at such a rapid pace, and because it is becoming more and more popular with each passing day, buy-outs and negotiations between companies are always making news headlines. This is proof that the online casino industry is here to stay, and that gambling is definitely becoming a much more central activity and pastime all around the globe. How this deal will unfold is still unknown, but online gambling fans will surely be keeping a close eye on the developing story.
