Andrew Watson

Partygaming buys Gamebookers

Posted on 03. Aug, 2006 by Andrew Watson in General Business

More companies look at aquiring and diversifying further into the main stays of internet community sites, online dating and online gaming, with online gaming group Partygaming buying betting company Gamebookers for 102m euros (£69m; $130m). Gamebookers offers online sports betting and has more than 50,000 active customers in 140 countries.

For Partygaming, this will protect it from the legal problems of online betting in the US as Gamebookers does not accept bets from customers in the US. The legality of online betting in the US has come under focus after authorities there arrested the head of rival firm Betonsports in July. David Carruthers, who at the time of his arrest was Betonsports’ chief executive, was subsequently sacked by the firm.

“The acquisition of Gamebookers is an important step forward in diversifying Partygaming’s business from both a product and geographic perspective,” said Partygaming chief executive Mitch Garber. “We believe that sports betting will be a valuable addition to our integrated gaming platform, which we expect to provide excellent cross-selling opportunities for our expanding base of customers outside the US.”

Not only will Partygaming be protecting itself from the US, but they will be able to maximise development savings buy integrating the gaming platforms.

Partygaming has bought Gamebookers from Isle of Man-based Trident Gaming. Gamebookers has an Antiguan gaming licence and the bulk of its operations are run from a centre in Bulgaria.