Party Gaming, Harrah's, MGM looking to purchase smaller on-line sites

[Busted_Flat]

This item just popped up on Reuters UK.

LONDON (Reuters) - The heads of two of Britain's biggest online gambling firms have warned that their industry faces consolidation in the wake of the U.S. crackdown on Internet gaming, a newspaper reported on Tuesday.
Mitch Garber, chief executive of PartyGaming Plc. (PRTY.L: Quote, Profile, Research) , operator of the leading Internet poker site PartyPoker.com, told the Financial Times that his firm was interested in buying companies impacted by new U.S. legislation to end online gaming in the country, which was passed by Congress at the weekend.

"We are very focussed on mergers and acquisitions. I see our liquidity as being very attractive to smaller players who may not be able to survive on their own," Garber said.

He also forecast that the pace of consolidation would get faster, with MGM and Harrah's seen as likely to enter the stage.

Link to full story

Sorry is this has been posted in some other thread, but there is too much too keep up with here.

[Barrin6]

wowow, everything is getting closer to the conspiracy

[Brice]

This is good and bad. Good in the fact that they are not backing down, bad in the fact that it could create a monoply.

[Losing all]

Interesting. The news sure is coming fast and furious over the last 24 hours. I can't look away

[Busted_Flat]

A monopoly that does not offer games to U.S. players, at least for the time being.

[Vern]

CNBC2 "Today's Business Europe" is reporting that Harrah's stock is up on the report that it may be acquiring some of the online sites. It seems as long as they were taking US customers they would not invest but now that the companies are are not taking US customers, US business can buy them out.

[Tofu_boy]

something really fishy here.
Remember Italy this year.
They ban it then tax 3% it later and now legal it.
could US do the same in the next couples of months????
I Hope

[Grey]

[ QUOTE ]
something really fishy here.
Remember Italy this year.
They ban it then tax 3% it later and now legal it.
could US do the same in the next couples of months????
I Hope

[/ QUOTE ]Were you trying for English?

[Cubswin]

Good find. Many of the B&Ms had failed online operations some years back and I have always believed they would pop there head back into the online world if the timing was right. Obviously it is still not right not the right time but the prospects of the big guys getting into the picture is a positive development amongst all the gloom.

[gila]

Wow, this stuff keeps getting wierder. I also read somewhere today on these forums that Harrah's has heavy finacial ties to our great senator Frist.