Posted on Thursday, 23rd July 2009 by admin
PartyGaming PartyGaming is fresh off of their settlement with the US regarding online gambling violations, and now they are expanding their global reach. One of the world leaders in online gaming, PartyGaming has made a move by acquiring Cashcade Ltd.
The acquisition makes a strong jump into the online bingo market for PartyGaming. They are the most stable of all gaming companies on the London Stock Exchange, and the company appears to be getting stronger after taking over Cashcade.
The company is not mixing words when they talk about their future plans. They would like to become the worldwide leader in all forms of online gambling. The Cashcade purchase just moves them one step closer to that goal.
“Our longer-term objective is to become the market-leader in online poker, casino, sports, and bingo,” said PartyGaming Chief Executive Jim Ryan in a statement after PartyGaming completed the Cashcade deal.
Their settlement with the US may have been their biggest hurdle in reaching their goal. Now that the settlement is complete, PartyGaming may have the opportunity to return to the US market in the online gambling laws in the country are changed.
Representative Barney Frank is currently leading a charge that would overturn the Unlawful Internet Gambling Enforcement Act in the US. he has proposed legislation that would lay the foundation for legalized Internet gambling in the country, and the legislation is receiving major support in Congress.
Tags: gambling, poker
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