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Empire Online to Sell its Shares in a Buyout
It appears that Empire Online may be bought up by
another larger online gambling company. As of now, many are
predicting that the courting company is PartyGaming, which has recently
listed on the London Stock Exchange in one of the biggest flotations in
the last five years. What is fueling this rumor even more is that
Empire also recently flotated - two months on the LSO to be exact - and
that Empire is a major traffic driver to online casino poker rooms.
It seems like a smart business move for PartyGaming
to pick up one of the largest online traffic diverters in the internet
poker industry. Since both companies are so similar in their size
and mode of enterprise, and Empire already has an ongoing deal with
PartyGaming, it only makes sense the two poker giants would collectively
join in an attempt to put a stronghold on the casino poker industry.
In just three months, the price of Empire's stock
has risen from 175 to 245. And now that the stock is at a whopping
270p - which is the amount that Empire divulged its new found buyer would
put up to take hold of the companies assets, it is only a short matter of
time before Empire online turns into something larger with a different
name.
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