Online Casino Enters Takeover Negotiations
14 December 2005

Rumor has it that Betandwin, a successful online casino group has entered into takeover negotiations with Ongame, the owner and software provide of the online poker room site PokerRoom.com. Apparently the two companies have both signed an understanding agreement in regards to the possible acquisition. This is exciting news in the industry because if the deal is completed that would mean Betandwin will be recognized as one of the largest online gaming groups in the world, and would only be second to the online gaming powerhouse PartyGaming.

The takeover deal is an estimated €500 million, which is an outstanding number. And it only goes to show that the online gambling industry is powerful, and is continuing to increase its revenue with its growing popularity. In addition, the more popular the industry becomes, the more opportunities strong and successful companies like BetandWin have to develop and grow into huge companies.

Should BetandWin succeed in the takeover deal it will greatly improve on their current customer base, as it would radically increase its global reach. As it stands now, BetandWin’s online casino clientele is limited, as the vast majority of their players are from Russia and Western Europe. However, once they acquire Ongame, they would gain access to the customers that play at PokerRoom.com; players from North American and the UK.

Furthermore, should BetandWin make the deal, Ongame will need to implement a new course of action for their company, as their original plans were to float. Nevertheless, should the takeover fail, Ongame will simply revert back to their original plan. But, until the outcome of the deal is realized, everyone will simply have to wait and see.