09-10-2007 PartyGaming puts itself up for sale

CEO Mitch Garber told the Financial times the online gaming and betting group is open to approaches regarding a sale from the major players in Las Vegas.

While an industry analyst said Las Vegas casinos could be interested since the acquisition would give them direct online access to the UK market, Garber refused to comment as to whether the company was already holding talks with a particular casino operator.

Speaking at the EiG conference last week in Barcelona, Garber said the industry is undergoing a momentum shift and when the United States will finally regulate internet gambling, it will get consolidation.

Earlier on, Martin Owens, an online gaming lawyer, stated that online gambling in the US is not dead despite the passage of the UIGEA.

Andy McIver, Chief Executive of Sportingbet, said that in Europe if one country regulates, another will follow. Unibet CEO Peter Nylander had said earlier that European facing operators are running a marathon with regards to their ongoing battles with European gambling monopolies.