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Online Casino Conditions >>> Betting News >>> September News


Online Betting Site Victor Chandler Does not Fancy Party Gaming

Online Casino Conditions Staff
September 17, 2006

The rumors may have been true at one point, however, it looks as if they did not come to fruition now that PartyGaming has publicly announced they have no interest whatsoever in buying out the Victor Chandler online casino and betting site. Party Gaming Chief Executive Officer, Mitch Garber, made these sentiments known during a conference call with reporters who were not only speculating that Party Gaming had the eyes of their vast online gambling empire on Victor Chandler, but also on World Gaming, which could give rise to a bidding war if enough gambling conglomerates were to get involved.

Considering that Sportingbet Plc. already has expressed sincere interest in World Gaming, and that Party Gaming has been on a recent spree of gaming company buyouts (just last month Party Gaming acquired GameBookers), the probability of a bidding war taking place between the two casino gambling giants is great, although the likelihood of both companies being interested in World Gaming to begin with is not nearly as favorable.

This has turned out to be the case regarding the Victor Chandler Group, who may not even want to sell out at all now that their online betting site is doing better and company expansion into new markets such as mobile casino gambling and internet poker is looking profitable. Zeus Capital was originally hired to help Victor Chandler mull over potential offers and determine the company's worth. While there is still considerable interest from other gambling company's, Party Gaming would have indeed been the most prime candidate considering they have capitalized on over $500 million since their flotation on the London Stock Exchange last year.

Mitch Garber adamantly denied any interest in Victor Chandler, stating that there is not even a possibility of an acquisition. He also denied that Party Gaming would not enter into a bidding war, whether that be over World Gaming or any other online casino and gambling property. What Garber did affirm, however, is that Party Gaming's recently acquired Game Bookers online betting site is performing beyond expectations.

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