PartyGaming Taking Aim at Gamebookers

Word has come out in the British business media recently, stating that PartyGaming Plc., is talking with Gamebookers about a buy-out deal. For some time now, PartyGaming has been talking about adding a sportsbook website to its already extensive online gambling interests. The price that is going around is GBP 50 million, and it is possible that the buy-out may be settled during the next couple of weeks.
Gamebookers, which is licensed for operation in the Antigua islands, was first begun in 1998. The company is also in receipt of a bookmakers permit from the United Kingdom. The company is presently being run by and is owned by Trident Gaming. Trident is located on the Isle of Man. It also runs Betbug which is a person-to- person betting site. Trdent purchased Gamebookers in July of 2005.

There were no comments on this media report on the part of either PartyGaming nor Gamebooker.

Meanwhile, the recent sell off by Party Gaming of executive stock held by the company’s principles being company chairman Michael Jackson, company finance director Martin Weigold, and company secretary David Abdoo, had an unsettling affect on the market and has led to additional sell offs of executive stock with shares standing at about 116p per share. When news got out with regard to the sales, PartyGaming Plc. shares dropped again in value, reaching 112p.

It was only 30 days ago that the founders of PartyGaming Plc.'s founders sold off a portion of their stock. A sale in which a combined total of 200 million shares were sold.

According to local sources Chairman Jackson was in need of funds to pay off his taxes, explaining his reason for selling shares. Nevertheless, Jackson, after depositing of some GBP 304,000 worth of his holdings, kept another 600,000 shares. In addition to his sale of PartyGaming sharesm Jackson sold off some of his shares that he held in a seconf company in which he is also the company chairman. In the case of Abdoo and Weigold however, the case is different since they sold off all of their interest in the company. In the case of Weigold, the sell off came to GBP 3.2 million for Weigold, and for Abdoo it was close to GBP 2 million for Abdoo. In each case however, they hold stock options with the company.

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