Re: CNBC Europe confirms Party Poker may bid for Empire
I can't see Party paying a premium to the current share price... Empire doesnt have alot of value imo with a current market cap. of ~$600M. Is this company really worth more than 100,200 or $300 Million...are its player's worth that much. Party doesnt need its infrastructure since its just a clone of Party. Noble is a small room on a small network.
Even the players that Empire
owns are highly transient. Many are old time Party players. I dont see how Empire can be worth $300M let alone $600M...
This news was in the stock when it bounced off the lows weeks ago. It still may be a good chance to short the stock..I agree this could be just a strategic ploy by Party.
Empire could be cut in half again without a deal.
Party may just take a look at their books walk away -let the stock get cut in half and then come back and really in earnest be serious about a deal...ruthless shhit.
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