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PartyGaming And 888 In Merger TalksOnline poker and casino operators PartyGaming and 888 Holdings are currently in talks of a possible merger. Both publicly listed companies have hit a hard road when their share prices collapsed following the passing of a new law in the US that seeks to ban most forms of online gambling. "The board of 888 notes the recent press speculation and confirms that it has had various preliminary discussions with third parties following suspension of its US activities," A statement to the London Stock Exchange says. "There can be no certainty that these discussions will proceed to an offer being made for the company or indeed any other action." Many gambling websites are looking for ways to bring their business back on track after the new US law wiped many of their customers virtually overnight. Most online gaming sites' share prices collapsed, making consolidation efforts and takeovers a feasible move. UK's Tessa Jowell has spoken out about the subject, saying that the new US law is like the prohibition, when the US banned booze. Jowell said that the online gambling ban would spawn the equivalent of speakeasies, the illegal drinking dens of the 20's. The Department of Culture, Media and Sport is set to host a conference this week on the subject. |
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