The impending announcement would confirm the various rumors that have been circulating over the past few weeks, with both companies looking to consolidate liquidity levels in the aftermath of the Unlawful Internet Gambling Enforcement Act (UIGEA).
The recent spate of consolidation and mergers and acquisitions in the online gaming industry looks set to continue according to a report from eGaming Review which reveals that Absolute Poker and Ultimate Bet are to announce their official merger later today.
Both Absolute Poker and Ultimate Bet are continuing their US facing operations, although details remain unclear as to how the new partnership will be structured and marketed, given the US market bias of both companies, or how this will impact staff. However, the new enterprise doesn’t appear too eager to target emerging markets in Europe or Asia with reports implying a strong marketing push in the US poker market in the near future, despite the influence of the UIGEA.
Representatives from both Absolute Poker and Ultimate Bet were unavailable for comment.
Despite this, forecasts suggest that given the independent muscle of both companies within the poker sector, any amalgamation between the two should result in the creation of one of the largest poker sites in the world.
November 26, 2006, 12:33 pm (5 years ago)
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