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Busy First Quarter for Online Gambling Industry

Busy First Quarter for Online Gambling Industry

The first quarter has been extremely busy for the online gambling industry with many mergers and acquisitions taking place. Some of the industry’s biggest names have been selling and acquiring assets in order to place themselves in a more competitive position within the market.

Busy First Quarter for Online Gambling Industry

The first quarter has seen a huge amount of mergers and acquisitions taking place within the online gambling industry.

Earlier this year Bwin.Party confirmed the sale of the Ongame poker network to the Amaya Gaming Group. However, the network was sold at a loss; Amaya paid €25 million, far below the price paid by Bwin.

The UK sports betting operator, Sportech Plc, has acquired a US b2B online betting operator, eBet Online Inc. eBet focuses on North American horseracing betting and is an excellent addition to Sportech’s portfolio of services.

In America the Vegas based Caesars Entertainment has bought the social and mobile game developer Buffalo Studios.

However, the companies did not disclose how much was paid.

Ladbrokes, the UK betting giant, has joined the betting exchange market by agreeing to buy Betdaq for £30 million.

There have been many more acquisitions in the past three months, much of them spurred on by the slowly opening online gambling market in the US. There are still more deals beign announced and it looks as though the second quarter may be just as busy.

 

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Raised close to London’s financial district, Ben has always found the world of business and money fascinating. While completing a degree in business studies Ben started writing for his university newspaper and hasn’t stopped since. Over the last decade Ben has gathered a wealth of experience writing about business and the financial markets and he is pleased to be able to share it with you here.

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