Party Gaming Pays GBP69 Million for a Sportsbook

Party Gaming’s long search for a sportsbook is over. This week the gambling group confirmed persistent rumors by announcing that it was adding Gamebookers to its stable. The news follows a ₤69 million deal with owners Trident Gaming out of the Isle of Man.

Party Gaming CEO Mitch Garber revealed during his announcement that Gamebookers provides online sports betting to some 50,000 active customers in 140 countries. He said that the acquisition is part of the Party Gaming strategy to diversify group business from both product and geographic perspective and confirmed that Gamebookers will not be accepting any wagers from US gamblers.

The potential cross-marketing flow from the deal is considerable and Gamebookers will be a good fit for other Party Gaming activities. Party Gaming already owns gaming sites such as PartyPoker and EmpirePoker and in addition offers online casino and backgammon gambling. The company generates about three-quarters of its revenue from customers in the US and has been successfully targeting geographic markets in Europe and Asia in an attempt to reduce dependence on American business and reduce the risk attached to the various political and legal problems in that country.
Gamebookers has an Antiguan gaming license and the bulk of its operations are run from a centre in Bulgaria.

Garber said in a statement: “The acquisition of Gamebookers is an important step forward in Partygaming’s strategic business plan from both the geographic and product perspectives. We know that sports betting will be a valuable addition to our integrated gaming platform and we are confident that we can provide excellent cross-selling opportunities for our expanding customer-base outside the US.”

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