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As part of an ongoing business diversification strategy, PartyGaming has recently signed a GBP 69 million deal with Isle of Man-based Trident Gaming to acquire Gamebookers, which offers online sports betting to some 50,000 active customers in 140 different countries. The acquisition of Gamebookers is part of PartyGaming’s strategy to diversify both its product offerings and its geographic reach. PartyGaming made it clear, however, that Gamebookers would not be available to U.S. residents. The Gamebookers deal provides great cross-marketing potential for PartyGaming and is in line with other products offered by the online gaming group. PartyGaming also owns gaming sites EmpirePoker and PartyPoker and offers online casino and backgammon gambling as well. While nearly three-quarters of PartyGaming’s revenue comes from U.S-based residents, PartyGaming is hoping to expand to other geographic markets in Europe and Asia in order to reduce its dependence on U.S. customers. The expansion campaign has been largely successful and has helped reduce the risk attached to the political and legal problems associated with online gambling in the U.S. "The acquisition of Gamebookers is an important step forward in diversifying PartyGaming's business from both a product and geographic perspective," said PartyGaming spokesperson Garber. "We believe that sports betting will be a valuable addition to our integrated gaming platform, which we expect to provide excellent cross-selling opportunities for our expanding base of customers outside the US." Gamebookers received its gaming license from the island of Antigua but most of its operations are run from a center in Bulgaria. Related Links: Posted on: August 7, 2006
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