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Party Press Release-More Consolidation Ahead
11 November 2005
PartyGaming Plc (“PartyGaming” and, together with its subsidiaries, the “Group”) WPC Platform and White Label Businesses or “Skins” Highlights Acquisition of MultiPoker Acquisition of IntertopsPoker player database Coral EurobetPoker to leave the WPC platform Changes further consolidate the Group’s strong position in online poker PartyGaming, the world’s leading online gaming company, announces today changes to relationships with three of its four white label businesses (or “skins”) operating on the Group’s WPC platform. The changes affect MultiPoker, IntertopsPoker and Coral EurobetPoker, and further consolidate the Group’s strong position in online poker ahead of the launch of a fully integrated, Party-branded operating platform in the first half of 2006. The Group has agreed to pay US$14.5m in cash for the business, assets, player database and intellectual property of Multipoker, including the Multipoker brand and the MultiPoker.com site. MultiPoker is a leader in online poker in Scandinavia with more than 255,000 registered players. The Group is ending its skin arrangement with IntertopsPoker.com which will become an affiliate of PartyPoker.com. The agreement enables PartyPoker.com to market its services to IntertopsPoker.com players and hands PartyGaming control of the IntertopsPoker.com site for the next 15 months. Coral Eurobet is pursuing a longer term strategy for its poker business and has decided to leave the WPC platform. The Group will co-operate with Coral Eurobet in the migration of its customers to a new poker platform in the next few weeks. Richard Segal, Chief Executive of PartyGaming, said today: “PartyGaming’s business strategy is clear and is being implemented as planned. We now look forward to the launch of the Party-branded integrated platform in the first half of 2006 when we will expand the number of games available to our customers, who will be able to use one account and a shared purse.” |
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