Victor Chandler could soon be part of the Party Gaming empire if reports in British daily The Observer are anything to go by. According to the newspaper, Party Gaming, the poker world’s publicly-listed giant, is preparing a competitive bid in the attempt to acquire the Victor Chandler group. Both firms operate in the competitive online casino and poker world and are licensed and operated in Gibraltar.
While Party Gaming’s management is staying mum about the rumours, the firm has made no secret of the fact that it intends to diversify its business away from poker in the coming years. The bulk of Party Gaming’s poker revenue currently comes from the U.S. but like other gambling businesses, the last year has seen it successfully diversifying its product to appeal to other markets. The firm has also announced several times that it intends to purchase sports betting interests and is especially interested in firms based in Asia and Europe. Victor Chandler’s business is said to be attractive to Party Gaming by insiders due to its refusal to accept bets from U.S. players and its focus on emerging Far Eastern markets.

The Victor Chandler Group’s internet business focuses mostly on sports betting, where over 80 percent of its sports betting revenue comes from. It also operates poker and online casino sites and is a well regarded and reputable presence in the world of online gambling. The firm recently appointed Zeus Capital, a corporate finance firm, to evaluate private bids for the business.

According to The Observer, Party Gaming is one of three interested parties prepared to offer solid bids for the business. Victor Chandler’s business is reported to be worth around 300 million pounds sterling.
Both firms have refused to comment on any possible deal but industry insiders have confirmed Party Gaming’s interest and are predicting negotiations will take place in September. The poker giant raised over 500 million pounds after its floatation on the London Stock Exchange last year, and recently acquired Bulgarian firm Gamebookers for 69 million pounds in an unrelated deal.

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