Feeds

PartyGaming weighs odds on Empire takeover

Flushed out

Build a business case: developing custom apps

PartyGaming, the company behind PartyPoker.com, has confirmed that it has made a bid to acquire rival online gambling operator Empire. The company said press speculation had prompted the disclosure.

The two companies previously had an agreement whereby Empire would direct players to PartyPoker.com in return for a slice of the revenue. However, PartyGaming ended that relationship earlier this year.

Subsequently Empire issued a profits warning and watched its share price collapse. Meanwhile PartyGaming reported in October that revenues from poker had risen 10 per cent, FT.com reports, after losing much of its value in a sluggish market sector.

PartyGaming issued a statement confirming that it has made "a preliminary, non-binding approach to Empire", adding that the proposal depends largely on the "prospects for Empire's business".

"The terms of any offer will be determined by the outcome of the due diligence process, which is ongoing," the statement concludes. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.