Online Casino Empire Sells up
By James McKeown
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.

Online Casino provides online gamblers with information on online casino gambling, sports betting tips, wining casino tips, internet casino reviews, sports odds, matchups, results, editorial and much, much more… We also have an industry insider’s section including Internet gaming press releases, a calendar of events and gaming industry news.
Bluff Europe: Europe's leading Poker Magazine brings you the latest Poker News, Player Interviews and all the best Online Poker offers Poker in the Park: Europe's largest Poker Festival.