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| | | | | | > > > > Purchases and Mergers in Online Casino Industry all the Rage
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> 11 May 2006
Purchases and Mergers in Online Casino Industry all the Rage
The online casino industry can only be described as exciting these days. Share prices are rising, despite rumors of a looming US prohibition on internet gambling. Gambling giants recognize the ever-growing potential of the industry and are seeking new horizons to invest in. Online casino groups continue to merge, forming huge blocs against competition groups. When these online casino groups have enough financial power, they begin the process of making their stocks available to the public, thus contributing to the billion-dollar industry that the internet gambling industry has become.
The latest deal to be clenched in the online casino industry was the purchase of the Spin Palace-Piggs Casino group by Fair Ground Gaming online casino giant. Not too long ago, Spin Palace online casino group purchased the Piggs Peak group. Now, in turn, this Microgaming software powered online casino group has been merged with Fair Ground Gaming. The Spin Palace-Piggs Casino group was acquired for the sum of $66 million dollars.
Mergers and acquisitions are popular in the online casino industry for two reasons. Firstly, the purchasing group ensures that part of the fierce competition in the industry is removed through the buy and, secondly, the acquisition of an online casino broadens the purchasing group’s customer base. | |
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