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Consolidation in Future Plans

With the discussions with the U.S. nearing an end, PartyGaming and 888.com are looking into the future in the online casino industry and seeing many possibilities concerning consolidations. PartyGaming is the top internet poker operator in the world right now, and once the U.S. clears the company from future litigation the CEO at PartyGaming was positive about future plans to expand further into the online casinos industry. The internet gambling industry has expanded rapidly in recent years, with many smaller internet poker, bingo, and gambling companies finding a niche market. And considering the number now of internet gambling sites to choose from, consolidation could be the key to keeping the industry full without being overly saturated.

Mitch Garber, the CEO at PartyGaming commented recently on the possibilities of consolidation at a conference call with various media journalists. Concerning the ongoing talks with the U.S. about retroactive online casino ban action, Garber commented, "We continue to move towards what we hope will be considered by all a satisfactory resolution. Once that's done, I think there's going to be quite a lot of consolidation activity [in the online casinos industry].”

Because there was (and still is) a chance that PartyGaming and 888.com could face legal action from the U.S., many prospective partnerships, buyouts and consolidations were nixed until the U.S. is firm on which online casino companies are safe from potential litigation. Beyond that though, one those issues are completed, PartyGaming has high ambitions about consolidation within the industry. Garber notes, "Being a $2-3 billion market cap company, we can certainly be a consolidator of fair sized companies and we can be a target of several of the mainstream, large international gaming companies. It wouldn't be unreasonable to assume that, at some point in time, both of those opportunities will present themselves and we'll deal with them as they come."