PartyGaming Leader in Victor Chandler Contest

According to the UK newspaper, The Observer, PartyGaming, the world’s largest online gambling company, is one of three companies bidding for online sports betting firm, the Victor Chandler Group. PartyGaming is reported to be the current front-runner in the race.

The sixty-year-old Victor Chandler Group has £1.4 billion in turnover a year and is valued at £300 million. PartyGaming has £500 million on hand for acquisitions such as this. The firm also bought the Bulgarian-based Gamebookers earlier this year, PartyGaming’s first foray into the sports betting market, for £69 million.

PartyGaming, like many other online gambling firms, is looking to diversify its business, reducing its reliance on poker and US revenues. The Victor Chandler Group is attractive because it does good business not just in Europe, but also Asia.


Originally published August 21, 2006