 |  | | | | Online Casio Giant Acquires Two Rivals1 Jan 2007 The last year didn't bring too many good news for the online casino industry, but it seems as the last week of 2006 could have brought with it some encouraging news for the whole industry. The world's biggest online casino poker company announced last week the acquisition of two rival online casino companies for a bit more than 66 million dollars in shares. The deal, which is considered one of the biggest this year, comes after the company's stock downed 76 percent, following the legislation of the Unlawful Internet Gambling Enforcement Act (UIGEA)
Although not everyone in the online casino industry is happy with the acquisition, analysts and experts believe that the step was necessary in order to increase the number of players that join the online casino. The company itself obviously agrees with the prediction, as they forecast a rise of 8.5 millions dollars in revenues next year due to this latest purchase.
According to sources inside the company, there are already several plans for more acquisitions next year, in order to increase even more the online casino's revenues. In addition, the company, which is based in Gibraltar, added this year sports betting to its range of games, trying to attract this way new gamblers. Until the legislation of UIGEA the online casino poker company heavily relied on the American market, something which has completely changed in just a couple of months. "We are sure that these deals will help us, as besides the new revenues they will also bring with them a strong management with proven marketing skills" said the company's spokesman.
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