11th Nov 2005 08:00
PartyGaming Plc11 November 2005 11 November 2005 PartyGaming Plc ("PartyGaming" and, together with its subsidiaries, the "Group") WPC Platform and White Label Businesses or "Skins" Highlights • Acquisition of MultiPoker • Acquisition of IntertopsPoker player database • Coral EurobetPoker to leave the WPC platform • Changes further consolidate the Group's strong position in online poker PartyGaming, the world's leading online gaming company, announces today changesto relationships with three of its four white label businesses (or "skins")operating on the Group's WPC platform. The changes affect MultiPoker,IntertopsPoker and Coral EurobetPoker, and further consolidate the Group'sstrong position in online poker ahead of the launch of a fully integrated,Party-branded operating platform in the first half of 2006. The Group has agreed to pay US$14.5m in cash for the business, assets, playerdatabase and intellectual property of Multipoker, including the Multipoker brandand the MultiPoker.com site. MultiPoker is a leader in online poker inScandinavia with more than 255,000 registered players. The Group is ending its skin arrangement with IntertopsPoker.com which willbecome an affiliate of PartyPoker.com. The agreement enables PartyPoker.com tomarket its services to IntertopsPoker.com players and hands PartyGaming controlof the IntertopsPoker.com site for the next 15 months. Coral Eurobet is pursuing a longer term strategy for its poker business and hasdecided to leave the WPC platform. The Group will co-operate with Coral Eurobetin the migration of its customers to a new poker platform in the next few weeks. Richard Segal, Chief Executive of PartyGaming, said today: "PartyGaming's business strategy is clear and is being implemented as planned.We now look forward to the launch of the Party-branded integrated platform inthe first half of 2006 when we will expand the number of games available to ourcustomers, who will be able to use one account and a shared purse." Contacts: PartyGaming Plc +44 (0)20 7337 0100Peter Reynolds, Director of Investor RelationsJohn Shepherd, Director of Corporate Communications Financial Dynamics +44 (0)20 7831 3113Edward Bridges / Juliet Clarke This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BPTY.L