PartyGaming planning to acquire a sportsbook

by mitchell posted Jun 28th 2006 at 14:00PM

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Just when you thought PartyGaming couldn't get any bigger, rumours are circulating that they may be getting into the sportsbook business. This doesn't come as a surprise to the affiliate world as PartyPoker has been adding products quite frequently on a regular basis.

As reported by Reuters, PartyGaming (PRTY.L) plans to raise $400 - $500 million dollars of which a portion could be used to fund a sportsbook acquisition.

Although PartyGaming is yet to make an official comment on the rumour, they have long been advised by analysts and consultants to continue diversifying their online gaming empire by adding new products. Looking at the additional revenues PartyGaming generated last quarter by simply adding blackjack would make one believe the addition of a sportsbook to be a smart business move.

Although a smart business move overall for PartyGaming (PRTY.L), entering the sportsbook sector sheds a whole new light on the perception from the U.S. government. Poker and casino affiliates have often been vocal about the differences in promoting casinos/poker versus sportsbooks. Many U.S. based affiliates perceive promoting sportsbooks as playing with fire. The interpretation of the U.S. Wire Act will certainly hold more weight against spots wagering sites than skill games like poker. This is especially true if the sportsbook has a call center for your players to place wagers.

With all this said, I place the over/under at 180 days until we will see a SportsBook icon at our Party Poker tables.

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