Empire Online, one of the world’s best known online casinos, has announced its intention to acquire an online sports betting business.
The company announced a 2005 profit of $41 million in online gambling profits, an increase of 15 million on the previous year. Online sports betting has proven a lucrative business in recent years. Industry analysts have predicted for some time that Empire Online would look to further its involvement in the online gambling industry by purchasing any number of sports betting sites.
Amongst the online sports betting’s major players are British firm Ladbrokes, William Hill and Sportingbet. Noam Lanir, chief executive of Empire Online, spoke enthusiastically about the firm’s flexible attitude in relation to online sports betting acquisitions and general merger activity in the marketplace. The owner of more than 20 per cent of Empire Online’s stock was quoted by various sources as saying. “Our focus is to extend the range of products that we can offer our customers, including a sports book.”
The online gambling firm reportedly attracted 450 new players at its online casinos each day during the month of March. The majority of these came from outside the U.S., a fact that no doubt has proved pleasing for Empire Online’s management. The firm has followed the lead of others in the online casinos industry seeking to reduce dependence on online sports betting and casino fans from the States.
In other news, online sports betting firms are keeping a close eye on developments in the U.S., where some lawmakers are seeking to impose outright bans on sports betting and casino websites. Following yesterday’s announcement of imminent acquisitions activity, Empire Online shares rose six pence to 152 pence.