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Acquisition Still in the Talks

The rumors are swirling throughout the online casino gambling industry about a possible acquisition deal between GigaMedia and PartyGaming. GigaMedia announced a possible intention to sell or merge the company’s offerings with another company just a couple of months past. Since that time, GigaMedia has reportedly received several offers and a very serious proposition from PartyGaming. PartyGaming is one of the largest online casinos and gambling groups in the market and the company has been very vocal about its intentions to expand and acquire new businesses as soon as the negotiations with the US government were concluded. Those negotiations came to a conclusion last month and at that point the whole of the industry has been watching for some clue as to the seriousness of the negotiations between GigaMedia and PartyGaming.

As the closed-doors negotiations continue to happen new fuel for fodder was added with GigaMedia’s announcement that former Chairman of the Board, Daniel Wu, has resigned from his position with the online casino gambling group for personal and family reasons. GigaMedia recently noted that board member Michael Ding will take over the position for the foreseeable future.

There is really no telling how soon or far away an acquisition deal has progressed but many online casino industry analysts do believe that GigaMedia is in an ideal position to approve an acquisition now, while the company’s brand is still strong. PartyGaming has waited patiently for more than two years now to have free reign in the European and foreign online gambling markets without the threat of US legal action weighing down any proceedings and negotiations.