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After months of hinting at prospects to enter the sportbooking arena, British media revealed this week that Party Gaming has indeed been involved in talks with Gamebookers. For a mere fifty million pounds the deal between the two could be sealed by the end of July.
Currently owned by Trident Gaming, Gamebookers was founded eight years ago. It is based on the Isle of Man. The firm also controls Betbug. This is a person to person internet betting site that bought Gamebookers last year.
Although licensed in Antigua, the operation also has a UK bookmakers' permit. Spokesmen from both Party Gaming and Game Bookers refused to comment on the reports.
Nevertheless, Party Gaming continues to unsettle the market as executives continue to sell off their stock. The latest of these sell offs recently took place by chairman Michael Jackson, Martin Weigold the finance director and David abdoo the company secretary. They sold their shares at 116p per share.
This resulted in a further drop of the company's share price.
Founders of the company recently sold around two hundred million dollars worth of shares. According to spokesman, however, Jackson sold his shares for tax purposes. While Jackson only sold a proportion of his shares, maintaining some, Wiegold and Abdoo sold off all their shares. This resulted in over three million pounds for Weigold and two million pounds for Abdoo.
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