PartyPoker buys Empire Poker

One of the greatest news in the online poker history has recently been released by PartyGaming the company behind PartyPoker.

PartyGaming, the world’s leading online gaming company, announces today that it has reached agreement with Empire Online Limited (“EOL”) to acquire the EmpirePoker.com skin (“EmpirePoker”) and other associated white label and affiliate agreements relating to AceClub.com and StarluckCasino.com, together with the withdrawal of all legal claims by EOL against the Group, for a total cash consideration of $250 million. The agreement is conditional upon the approval of EOL shareholders and PartyGaming has received irrevocable powers of attorney from EOL shareholders to the effect that their votes will be cast in favour of the necessary resolution in respect of a total of 163,999,358 EOL ordinary shares, representing approximately 56 per cent. of the issued share capital of EO.

Richard Segal, Chief Executive of PartyGaming, said today: “This acquisition brings our skins strategy to a close and consolidates our leading position in online poker ahead of the launch of the fully-integrated, Party-branded platform. The introduction of Blackjack last October marked the beginning of our cross-selling strategy; the integrated platform will enable PartyGaming to take the cross-selling of games to a new level.”

Source Partygaming.com

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