PartyBingo is one of the Internet’s more popular online bingo games destinations and the company that operates this online bingo hall, PartyGaming, has just announced better-than-expected profits for the last quarter of 2007.
While this is something to be celebrated by the online bingo industry as a whole, especially in the wake of the horrendous financial losses incurred by UIGEA throughout 2007, there is also another side to the PartyGaming story that lends hope to a brighter future for the online gaming industry.
PartyGaming are currently talking to US authorities along with other major online operators like Sporingbet and 888.com in the hopes of avoiding action against them for accepting wagers from US customers prior UIGEA. Apparently the talks are going well and this is prompting speculation that a re-entry into the US market could be on the cards.
I know – we’ve heard this all before and re-entry to the US market has become somewhat of a holy grail for free online bingo operators here in the UK. But should this be the real deal this time, analysts are saying such a relaxing in US regulations would trigger a spat of consolidations within the online gaming industry.
Should this prove to be the case – and that is a mighty big ‘IF’ – then my own assessment at the beginning of this year that we would see a jump in mergers and takeover activity during 2008 may prove a bit understated. Expect to see the sector go into mergers and acquisition hyperdrive!
Written by Bingo Lady
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