Since listing on the London Stock Exchange one year ago tomorrow, PartyGaming has been on somewhat of a roller coaster ride. The online gaming company is now reported to be in the final stages of planning for an expansion into sports betting as a means of diversifying. A bond issue is expected to provide funds for an extensive round of acquisitions, commencing with the purchase of a small privately-owned European operator.

Apart from ongoing uncertainty over a possible online gambling ban in the United States, the success of the World Cup for sport betting companies demonstrates the strategic importance of a move in that direction for PartyGaming. Another option, land-based casinos, has been ruled out in favour of remaining a web-based operation in line with the company’s poker and casino games businesses. PartyGaming has just launched a backgammon site in addition to its other games and is planning to introduce more languages and currencies to attract players.

The anticipated bond issue should raise as much as £500 million (US$908 million) for funding the acquisition of sport betting companies. A number of privately-owned companies have anticipated the move into their territory by online poker companies and are offering themselves for sale. 888.com is known to be interested in acquiring a sport book. PartyGaming, which will be advertising heavily at the World Series of Poker final in Las Vegas, will not be accepting sports bets from the US. (E-06.29.06)

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