Posts Tagged ‘partygaming’

Dikshit Sells Off All Shares

Wednesday, October 21st, 2009

It seems that Anurag Dikshit, the notorious founder of the online casino empire PartyGaming has decided to leave this world all behind. This came as a dramatic and slightly unexpected decision since his whole life was devoted to online casinos in a number of ways. But he decided to leave his company and ended up selling his full stake that he had invested in the company. This came out to a considerable chunk of change because even though PartyGaming has managed to come upon some rough times financially in recent months and years, the company is still one of the heavy weights for internet casino gambling in many parts of the world.

Dikshit had originally indicated that he would be soon making the move to sell off at least two thirds of his 28% stake in the PartyGaming stock. His stated intention was to bring a focus closer onto his charitable work that he has going for himself in the South Asian region. This is an interesting development for sure for anyone out there who has been following the ups and downs of PartyGaming and the market of online casinos in general.

Dikshit was fined $300 million and had to plead guilty to charges under the US Wire Act (from 1961 or so). Since Dikshit made his initial announcement to let go of two thirds of his stock, he subsequently decided to offload every single penny of it and just make a clean break so that he could move on with his life. It will be interesting to see what kind of an impact this move has on the casino gambling industry as a whole.

Bwin Ranked First For Egaming Power 50

Tuesday, September 29th, 2009

In the industry of online casinos, it takes an awful lot to be ranked at the top of the class. There are so many online casino, sports betting, poker and bingo sites out there that it is quite easy to get lost in the shuffle. But there are certain key things operators can do to make sure that their casino sites stand out above and beyond the rest. One gambling operation that is worth checking out to see just how they do things is Bwin. It was just recently announced that the wildly popular online gambling site managed ot get the best of rivals such as Betfair and PartyGaming to become the number one casino operator in eGaming’s Power 50 leading operators.

This is not the sort of recognition that can just be shrugged off as some sort of fluke. This is the real deal for the business of online casinos. For the top ten ranked operations of this past year, there were not too many surprises. One of the newer faces in the industry, Magas Gaming managed to score a spot in the top ten alongside a rejuvenated William Hill. But no one was any match for Bwin since the company’s earnings before depreciation, tax, interest and amortization was marked at 40% for halfway through this current year.

Some of the components that managed to give this online casino company an edge over its nearest competitors were its savvy football sponsorships of the Spanish Primera and Segunda leagues. Plus, they waged many a battle against the numerous monopoly efforts within the European region and this caused them to be quite a force to be reckoned with in a variety of ways. PartyGaming was still able to come in second place and that is still a remarkable feat considering the incredibly bumpy road that particular internet casino company has gone down in recent months.

PartyGaming Purchases Cashcade

Saturday, July 25th, 2009

It seems that the future of Cashcade, one of the major movers and shakers in the industry of online casinos and bingo halls, is now finally secure. After battling many different rumors that hinted that the online casino gambling company would be purchase by several different companies, among them 888.com, the wguessing game is officially over. It seems that the mastermind of the latest business deal in this case is PartyGaming.

After coming through relatively unscathed after its searing and long drawn-out legal battle with the United States Department of Justice, PartyGaming is working its way back up to the top of the crop among online casinos and operators. You may be only moderately familiar with the name Cashcade, but if you are a hardcore online casino or bingo fanatic, then surely you are familiar with popular sites such as Get Minted and Foxy Bingo. Those are brought to you courtesy of the people at Cashcade.

PartyGaming is seeking to gain some further standing in the industry by going through a series of elaborate and high-scale acquisitions that will increase its already sizable hold on a substantial portion of the casino gaming industry’s future. The buyout of Cashcade was reportedly in the ballpark of about 100 million pounds.

PartyGaming was required to make a down payment of no less than 75 million in order to get the deal to go through. The remainder of the payment will be delivered after a performance review takes place over the course of the next two coming years. This is positive news for the Independent News and Media publishing company that has struggled to remain afloat during these challenging economic times.

Broadcaster Five Ups The Ante

Thursday, June 25th, 2009

After securing a sweet business deal with the likes of PartyGaming, one of the titans within the industry of online casinos, it seems that Broadcaster Five is charging forward into the future of gaming. They have taken an active interest in the field of digital media and are making quite an impression on the realm of online casino gaming sites with their Demand Five. The company has already secured some impressive deals with the likes of the Euro telemillions operator Netplay. Their role with this particular organization is exciting since the interactive casino gaming company produces a series of live daily draws.

Broadcaster Five has recently upped the ante in terms of what their reach in the business of online casinos extends to. Now in the works is an awesome new premium online casino and bingo gaming website. The schedule has been set in place and it seems as though this casino venture will be heading onto the internet sometime later on this year.

Five has been busy looking and exploring any and all possible opportunities to expand its scope and offering to connect to more and more casino gaming fans and take advantage of this incredibly successful, lucrative and thriving industry. Who could blame them? Everyone wants to get in on such a good thing.

Broadcaster Five has sought to build up their core broadcast content in new and exciting ways and it is just a matter of time before it will pay off in a big, big way. They are known in the industry for producing enjoyable and dynamic gaming experiences and this is just the beginning of many great things to come.

PartyGaming Charges Ahead

Saturday, June 6th, 2009

The folks at PartyGaming don’t ever seem to quit pushing the envelop and creating new opportunities in the world of online casinos. The company has made a remarkable comeback since its legal battle with the United States Department of Justice. After paying out millions of dollars, the company is back on track and seems to be doing better than ever. Their shareholders have been paying attention to this in addition to many other eager investors the world over so their stock shares have risen up dramatically over the course of the last few months. Now the clever casino people at PartyGaming are coming out with an amazing new selection of some 13 brand new games to excite and thrill their loyal legion of online casino players.One of the top new draws among this group of casino games is a Frank Sinatra slots game. Old Blue Eyes is sure to reel in a staggering number of eager fans of online casinos who will not be able to get enough of this highly specialized themed slots game. It is set up as a five-reel game that comes with a cool 20 separate pay-lines so there are tons of chances for you to earn oodles and oodles of money.

The game also comes with a sensational feature that lets you write music for the Sinatra Big Band to play. How many other casinos can offer this caliber of entertainment? My guess is that they are few and far between. We are very lucky to have PartyGaming here and working hard to test the limits of what is possible for internet casinos to accomplish.

PartyGaming & 888 Vie For Business Deal

Thursday, May 28th, 2009

It seems that there is fierce competition in the air among not only players at online casinos but also among different casino companies that are vying for the same business deals. This time the race is on between 888 Holdings and PartyGaming. The two online casino industry companies are competing neck and neck to seal the deal with Cashcade. They are among the top final companies who have thrown their hat into the ring and put down a bid. Cashcade is a well known casino and gambling operation in the business. Some of their ventures include the likes of Foxy Bingo and GetMinted among others. The company has been doing very well overall despite the horribly bleak economic conditions that have paralyzed many other industries in the business world.Over the course of the last year, Cashcade was able to take in a gross gaming revenue sum that was right around 45 million pounds. That is a substantial undertaking given today’s unforgiving financial climate. Many other online casinos and assorted gambling operations would be very happy to achieve half of what Cashcade has been able to generate in terms of profits. This organization, devoted mostly to the online bingo sector of the casino business is partially owned by Independent News and Media.

Their latest deal is going to set them up very well financially speaking for some time to come. There is rumored to be one other competitive bidder who also decided to throw their hat into the ring to work with Cashcade and many casino industry insiders are assuming that the contender is none other than Paddy Power. With PartyGaming well on the mend from their legal woes and battling it out with the United States Department of Justice, they are scouting out a vast assortment of acquisition possibilities to spice things up.

Karma Comes To Call On PartyGaming

Friday, May 8th, 2009

There has been a considerable amount of grumbling after the “resolution” that PartyGaming and the United States Department of Justice recently reached which consists of PartyGaming, one of the most popular and successful online casinos and poker sites in the business, paying out $105 million to the government for all of its alleged wrongdoings. Some legal experts are crying foul play, noting that there is a big problem when the government tries to use  out of touch and sorely outdated laws from the 20th century to address a situation that involves 21st century technology. One result of this sort of behavior on behalf of the United States government is that it has pushed many online casino players to get their needs met at unregulated offshore sites.

 

This could lead to many problems for American players. What’s more is that the government has essentially managed to push out any of the reputable and high quality publicly traded online casino operators. The most interesting thing to note in all of this is that online gambling within the United States has not decreased by one little bit. Online casinos are still getting plenty of business from American players and American money is still being spent at the gambling sites all over the world. The only real result of this development is that there has been a dangerous reduction in the extent to which we are able to monitor any potentially shady transactions. Who benefits from that?

 

One outcome from all of this is that the stock values for PartyGaming climbed sky-high after news got out about the settlement that the company would pay. This was very heartening news for investors. This came about because investors see this step as opening up potential for casino industry consolidation and expansion beyond the boundaries of the United States.

New Rambo Slots Game Unveiled

Wednesday, April 22nd, 2009

If you are a fan of the online slots games based on the enormously popular movies Top Gun and Saturday Night Fever, then you will simply adore the new slots game to come from the clever folks at PartyGaming. Hot off their settlement agreement with the United States Department of Justice. The casino company has seen their shares soar since the day that news of the agreement was reached and now it appears as though they are intent on diving right back into the middle of the action of online casinos. Their new game is supposed to serve as a companion game to the movies mentioned earlier and it revolves around the Sylvester Stallone classic “Rambo.” It is about time, isn’t it?

This game has been designed as a 20-line game that comes with five reels. And the best part of this game, as if you had any doubts, is its theme. The entire game is devoted to the wondrous adventures that the highly respected action hero John Rambo embarks upon. For those of you who are yearning for a little does of nostalgia when you come to visit and get in on some gaming action at your favorite online casinos, this game will be exactly what the doctor ordered.

This game is packed with thrilling weapons and the rugged terrain that is similar to what was featured in the actual movies. If you long for helicopters and on the edge of your seat prisoner of war rescue missions, then this game will be the perfect match for you. The bonus feature will be triggered when three Rambos show up across the screen of reels. And there are multipliers and free spin action if that is more your style as well.

Intralot Signs Agreement With PartyGaming

Wednesday, April 15th, 2009

With all of the headlines that PartyGaming has appeared in over the course of the past few weeks and even more so the past few months, the company is not yet finished making news. Now it seems that the company known for delivering great action to fans of online casinos has recently signed onto an agreement that involves the launch of an online poker tournament service in the nation of Italy. It will help execute this business plan on behalf of Intralot SA absed out of Greece. And this deal will most likely serve as a blueprint for many more similar deals to come in the future. Technically, this development means that Intralot is officially the first member of the online casino poker network that PartyGaming is getting going in Italy. A special marketing campaign in the nation of Italy will involve doing some major promotion for Intralot’s online poker via the retail network that the company already has in place. This network is fairly extensive, being comprised of some 600 different betting outlets.

What this means for the industry of online casinos is not yet clear, but it seems as though PartyGaming is wasting no time since agreeing on a non-prosecution settlement with the United States Department of Justice. The company is moving fast and looking to bounce back quickly to a full recovery. This latest news comes just days after the shares for the company shot way back up after news spread that the folks at PartyGaming had finally resolve this legal battle with the United States Department of Justice.

The deal consists of an agreemtn in which the two companies involved will work together to discover new opportunties for delivering online casino gaming services to strategic markets located all around the globe. 

CEO Of PartyGaming Moves To Harrahs

Tuesday, April 14th, 2009

It seems as though a new dawn has arisen in the world of online casinos and gambling. The signifier for that shift comes with the news that Mitch Garber, the former CEO of PartyGaming, has recently been appointed as the head of Internet operations and World Series of Poker division for Harrah’s Entertainment. Harrah’s has been a huge name in the land-based casino industry for a long time. With all of the struggles that the folks at PartyGaming have faced over the course of the last year with battling head to head against the United States Department of Justice before finally settling in a $105 million agreement, it seems that the tables may be turning in their direction.

Now the online casino business world is abuzz with murmurings that Harrah’s Entertainment might be embarking upon a long and thorough journey of buying up different online casinos and internet gambling operations here are there. Harrah’s a formidable force in the world of gaming may be moving to mold these businesses into a brand new endeavor, but the final word is still out on that scoop. Over the past few years, Harrah’s Entertainment has made a strong show of support for the legalization and regulation of online gambling for the United States. Everything is moving more and more in this direction as the land-based casinos suffer losses in revenue during this financially trying time.

The head of Harrah’s Entertainment views the legalization of online poker as a clear indicator that the United States is on the brink of changing its position when it comes to the role of casinos and other gambling operations in the country. As Congressman Barney Frank gears up to propose another bill that aims to regulate and legalize online gambling, anything is possible with Barack Obama in the White House.

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