Party Gaming's long quest for a sportsbook is over, it seems. This
week the gambling group confirmed longstanding rumors by adding Gamebookers
to its stable following a GBP 69 million deal with owners Trident
Gaming out of the Isle of Man.
Gamebookers offers online sports betting to some 50 000 active customers
in 140 countries, Party Gaming CEO Mitch Garber revealed in making
the announcement. He said that the acquisition is part of a strategy
to diversify group business from both a product and geographic perspective,
but emphasized that Gamebookers would not be accepting any action
from US gamblers.
The cross-marketing potential flowing from the deal is considerable,
and Gamebookers will be a good fit for other Party Gaming activities
- the group owns gaming sites such as PartyPoker.com and EmpirePoker.com,
and also offers online casino and backgammon gambling.
The company generates about three-quarters of its revenue from customers
in the US and has been successfully targeting other geographic markets
in Europe and Asia in an attempt to reduce dependence on American
business and the risk attached to political and legal problems in
that country.
"The acquisition of Gamebookers is an important step forward
in diversifying Partygaming's business from both a product and geographic
perspective," said 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."
Gamebookers has an Antiguan gaming licence and the bulk of its operations
are run from a center in Bulgaria.