Online Casinos Set To Merge Rumours

14th February, 2010

Two of the best uk casinos online will feel their ears burning this week, as rumours return that they are back in talks to mergetheir businesses.

Gibraltar-licensed online casinos 888.com and Ladbrokes were previously in talks back in late 2006, which collapsed in 2007 when current CEO of 888.com, Gig Levy took the helm from ex-Ladbrokes exec John Anderson. 

The current rumours have been fuelled by 888.com's recent strong results announced to the city, as well as hints from Levy himself that M&A activity may be on the cards.

Ladbrokes have refused to comment but a statement from 888 spelled out that their strong financial situation was conducive to a takeover at some point...

'The group's financial position is strong, with approximately $98 million (£61.25m) cash equivalents and no debt, leaving the group in a sound position to exploit further merger and acquisition opportunities when they become available.'

CEO Levy himself announced that the company was at different stages of M&A - one smallish takeover in the late stages of the process and one larger on at the early stages.

This latest development comes on the back of two rival companies who had to bat off rumours in late 2008 of a possible merger. Austrian based Bwin was said to be in talks with Ladbrokes' Gibraltarian neighbours Party Gaming, in what would make a mammoth online gaming company.