It’s a new Party in 2007

by Lou on January 2, 2007

In an expected consolidation move, PartyGaming acquired the assets of Empire Online and Intercontinental Online Gaming, and in the process, assume control over a variety of online gambling sites, including Noble Poker.

None of these sites serve customers in the United States. Empire will, as we reported earlier, be repositioned as a fund to invest in real estate, stocks, bonds, and derivatives.

Empire’s founder, Noam Lanir, was eager to leave the online gaming business, and this deal provided the exit strategy he needed. Empire issued a statement saying, “The directors believe the Company’s remaining operating business is sub-critical in terms of size to thrive as a stand-alone business and would be able to grow better as part of a larger group.”

Party is optimistic that the additional liquidity and Empire’s marketing skills will help reposition them as a Euro-facing online gaming presence, a sharp turn from their days as the leading US site up until passage of the Unlawful Internet Gaming Enforcement Act three months ago.

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