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Party Gaming reportedly holds talks with rival Gigamedia

According to reports in the UK newspaper, The Times two well established and substantial online gambling companies may currently be in discussions. Gibraltar-based Party Gaming plc and the Nasdaq listed GigaMedia group are named in the report, which notes that earlier this month Gigamedia flagged an interest in selling or merging.
 
The Times article reveals that Gigamedia, which has a market value of $363 million (GBP 246 million), may PartyPokerhave hired Goldman Sachs, the investment bank, to find a buyer for the whole company or simply its respected Everest Gaming and Everest Poker brands.
 
Party Gaming, which this month settled a $105 million legal dispute with the US Department of Justice (DoJ), is among a small number of parties thought to be negotiating with Gigamedia. PartyGaming has noted in the past that one of the advantages of putting the threat of US prosecution behind it is the enhanced ability to engage in M&A and capital raising activities.
 
When approached on the news, Party Gaming, which is said to be eyeing a number of possible deals, declined to comment on the Gigamedia talks, although a spokesman said: “We have made it very clear we believe the industry will consolidate and we will look at opportunities as and when they arise.”

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Gambling News :

IS DAN BILZERIAN A POKER FISH? - Dan Bilzerian, the high profile Instagram legend, jet setting playboy and allegedly deadly online poker player who claims he accrued a $50 million fortune playing the game,

Vegas Crest online casino adds 30 new games - The Vegas Crest online casino has announced the addition of 30 new video slots to its games inventory from developers GameArt and Xplosive.

AMAYA C.F.O. RETIRES - Daniel Sebag, the Amaya online gambling group's first and only chief financial officer with ten years’ service under his belt, has retired, according to a company announcement Friday.

Is Sheldon Adelson in Favor of Trumo - With the inaugural presidential lunch coming to a close Friday afternoon, US Congressional reporter Paul Kane offered an interesting tweet, noting:

SD618 Massachusetts Online Gambling bill Updates - A few more details have emerged on Sen. Bruce Tarr's new online gambling legalization bill SD618 just filed in the Massachusetts Senate.

2017 $25,000 buy-in Aussie Millions Challenge event results - Taiwan poker pro James Chen has emerged victorious in the $25,000 buy-in Aussie Millions Challenge event after besting a field of 133 at the Crown in Melbourne.

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

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