By Simon Halberstam
As readers will know, many remote gambling operators were deriving a large proportion of their revenues from the US market. In light of the clampdown in the US with the arrests of Peter Dicks and David Carruthers and the consequential fall out amongst companies with US exposure, it is unsurprising that operators are now looking to expand into different countries where there is regulation rather than a prohibition on online gambling.
A landgrab is now in full flow in the international gambling market both off-line and online. Harrah's Entertainment Inc of the US bought London Clubs International plc for £280m last September and now Harrah's itself has accepted a $27.8bn (£14.29bn) offer from private equity funds Apollo and Texas Pacific. In the online world, there has been sporadic speculation about a mega-merger involving Party Gaming and 888 Holdings but the best bet for a trip down the aisle now seems to involve 888 and Ladbrokes. Ladbrokes is reported to have structured the deal in such a way as to protect itself against legal action from the USA.
Continue reading "Striking It Rich Overseas - More Easily Said Than Done" »
London, 24 April 2008: 