Empire Online, who is primarily known for the online poker room Empire Poker, has reported that the company is now ready to begin searching out potential acquisitions after selling Empire Poker to Party Gaming for $250 million. Even with first quarter earnings dropping somewhat from the previous quarter as well as revenue from the same quarter exactly one year ago, Empire Online still has a healthy bankroll which the company says they want to put to good use.
With $259 million available for acquisitions, Empire Online is indeed in a position to give itself more exposure outside of the U.S., which is where they have been primarily attracting all of their online traffic from. Considering that online poker was their main source of income prior to selling to Party Gaming (betting revenue from poker dropped nearly 70% down to $5.8 million for the first quarter), Empire is seeking to diversify in the areas of sports betting and online skill gaming and bingo.
However, energy is still being put into the internet poker industry via the Empire owned and operated, Noble Poker, which is doing sufficiently well for itself…so much so that Empire is still considering further poker acquisitions.
As for casino games, Empire Online nearly tripled its casino related revenue since one year ago. With a first quarter earnings mark of well over $15 million, online casino acquisitions are looking like a very plausible option and reality for the online gaming company. With the tremendous financial flexibility held by Israeli group, as well as a smart team of executives, getting the buyout from Party Gaming may turn out to be an even sweeter deal than previously foreseen.
Betfair Is Making Headway In The Asian Market
The first online gambling company to officially gain recognition and permission to offer a poker tournament in Singapore is Betfair. To be called the Betfair Asian Poker Tour, it is expected to include players from all over the world who will compete for a grand prize pot of $2 million in prize money. Anybody will be allowed to play including local residents. It is expected that many professionals will come along with the average poker aficionado. To qualify you need only enter your information by going online to Betfair Poker, or attend live tournaments being played all over.
This innovative event is scheduled to take place this November, and Betfair Poker has arranged with Capital Events, which is a local concern, to assist in hosting the event.Ben Fried, BetFair’s poker head says that the city of Singapore is really idea for hostage such and event. And this is because Singapore is a real tourist draw and forms the hub of regional activity.
By working with the locals as partners, Betfair, is being given an opportunity to raise its Asian profile. These are people who comprehend regulatory restrictions that will apply and also the sensitivities of the local people. Fried says that Betfair is very much involved with new and creative innovative approaches and being the first on the block. He notes that Singapore will give BetFair the opportunity to provide a outstanding poker event in addition to providing their players with the opportunity of experiencing the Orient and Singapore. The Singapore Tourist Board (STB) is a control backer of the Betfair Asian Poker Tour. The Tour will be televised and then distributed to the media and to international broadcasters.