Saturday, July 22, 2006

As reported by the U.K. Guardian: "The online gaming group PartyGaming today
brushed aside concerns raised by the arrest in the US of a British executive
from a rival company as it reported soaring revenues. "PartyGaming, owner of
the world's largest online poker site, PartyPoker, said the drop in share
prices in online betting companies following the indictment of BetonSports
presented acquisition opportunities. "Mitch Garber, PartyGaming's chief
executive, told Reuters: 'I've had a very strong M&A (mergers and
acquisitions) focus in my previous life and Martin (finance director Martin
Weigold) and I have been looking at companies,' he said. 'Any time price
becomes more attractive, I guess deals become more attractive.' "As for the
turmoil that has engulfed rival BetonSports following its indictment by the
US justice department, Mr Garber said: 'The characteristics of the
indictment are very far away from what PartyGaming does.'."