888 next to merger?

888, one of the largest developers of online casino software has reported that after the merger this week between PartyGaming and bwin, which is now the biggest online casino gambling company in the world, that they too have been approached by several rivals for options to merger.

The merger between the two casino companies, currently has a value of 3 billion Euro, puts the other companies in the Internet gambling sector under pressure to create their own mergers. If they do not keep up with the changes they are going to stay behind as the big losers, while online gambling laws become more flexible around the world and gambling companies start to work together. Gigi Levy, CEO of 888 said: “This puts us in a position in which we are one of the best assets in the field, we got a few phone calls immediately from various people. Everybody in the industry is looking and saying ‘who is the best one to merge with if we need to?.”

Gigi said that 888 definitely is interested in a possible merger, but for now nothing will happen because the merger between PartyGaming and bwin took almost one year. Nick Bartram, an analyst at KBC Peel Hunt said that 888 must find a company to merge with,especially in light of its weak trading performance in recent quarters. According to analyst firms must now enter into their own partnerships or run the risk of being left behind even further behind. A collaboration of 888 seems inevitable after the poor performance of the online casino operator.

888 is a leading operator of online casinos, online bingo and online poker sites and reported last week that revenues for the company were unchanged in respect to last year.

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