Online Casino Group to Make Major Acquisition

A leading online casino group has proposed to pay GBP 490 million to buy out another popular online casino firm. As early as this week, the online casinos deal could be complete. The takeover of the popular online gambling group, which has seen interest from other Internet gambling rivals, is expected to be pitched at between 140p and 145p a share. This will allow it to net millions for the two sets of brothers who founded the Internet poker and casino group.

Shay and Ron Ben-Yitzhak and Aaron and Avi Shaked still own about two-thirds of the online casino group that will be overtaken. It is currently worth over GBP 300 million, although it is not known whether they will sell out completely or take a share in the other online casino group. The acquisition would further enhance the online casino group's operation and increase liquidity on its poker sites. All the while the online casino would now be able to provide software capability that it currently out sources and accumulate estimated cost savings of around GBP 30 million.

In the competitive world of online casinos, acquisitions and sales are daily events. Like any other business market, the online casino industry has leaders among the numerous online casino sites and groups that make up this growing and dynamic market. When this latest acquisition goes through, whether it is a full buy out or a merger of some kind, it will surely make headlines around the world. And online casino fans will be ready to read all about it.