home casinos play poker play bingo play instant win games gambling news archive forums
- -
Bookmark current page
→ casino
→ online casino
→ online poker
→ poker
  Recommended Sites
  Featured Partner
Gambling Articles
Gambling Experts
News Archive
Contact Us
Bingo Aff Program Gambling News Archive

Lanir Sells Empire Shares to PartyGaming

Empire Online Poker owner sells shares to PartyGaming

Wednesday 27th December 2006

Israeli online poker and gambling entrepreneur and marketing expert Noam Lanir has sold his remaining shares in Empire Online to Party Gaming for $40 million, according to the Y-news site.

More than eighteen months after the company listed on the London Stock Exchange (LSE), the indications are that Lanir is heading out of the online gambling business altogether, after revealing that he will use the revenues from the sale of Empire, which total $300 million, to invest in real estate.

The deal with PartyGaming, the world's largest operator of gambling Web sites, is expected to be finalised by the end of the week.

Some (Israeli) experts interpreted the move as a signal that the two remaining Israeli online gambling companies traded on the LSE, and Playtech, may be making similar moves following the enactment of the Unlawful Internet Gambling Enforcement Act.

Empire was worth $928 million when first traded on the LSE, but its shares have fallen drastically in recent months. The company has an estimated value of $244 million today after its shares fell by 80 percent.

Source: OnlineCasinoNews

  • Back to archive index
  • Submit a press release

    Discuss this story in the Gambling Forum. Last 5 Posts:
    Sunday 26th February, 2017:   Horse Race betting
    Friday 24th February, 2017:   Poker Websites
    Thursday 23rd February, 2017:   UEFA Europa League
    Wednesday 22nd February, 2017:   UEFA Champione Leugue
    Wednesday 22nd February, 2017:   Hi - How to make good money online!