The Queen of Hearts

Ladbrokes eyeing Partygaming too?

TheBusinessOnline reports that MGM Mirage and Ladbrokes (a British gambling empire) have started exploratory takeover talks with a number of online gambling companies which have been hit hard by the recent anti-online gambling bill in the US.

MGM is the world's second-largest gambling group, and it is believed they have approached PartyGaming to discuss a possible takeover. Prior to the US legislation restricting the ability of US banking institutions to process transactions to online gambling companies, PartyGaming was the largest online gambling company worldwide. However, they were hit hard by the legislation and chose to withdraw from the US market, which provided up to 70% of their revenue.

Bankers linked with MGM Mirage have reportedly stated the talks are serious, albeit in an early stage. PartyGaming has also recently been linked to a possible merger with 888, another company hit hard by the US legislation.

posted by Queen of Hearts @ 00:05