January 20, 2008
- One of the leading
online bingo software developers in the business, Parlay
Entertainment, is now in the early stages of an acquisition
by PEIC Acquisition Corp. While the maneuver will not
adversely affect any of Parlay Entertainment's online bingo
room licensees, the acquisition comes as somewhat of a
surprise to those familiar with the successes of Parlay.
Most online bingo
players have heard of Parlay - the reason simply being they
are one of the largest online bingo software developers and
licensors of online bingo rooms in the world. Now with over
100 online bingo sites and skins, Parlay has been the
Microgaming Software to the online casino world. Their
innovations have helped the online bingo world blossom into
the formidable and popular pastime it has become in just a
few short years.
Apparently, the
acquisition is just a "letter of intent" at this time;
However, considering the support of Parlay's shareholders,
who will be paid $0.95 per share, it is highly likely it
will go through. With Sportingbet founder, Mark Blandford at
the realms of PEIC Acquisition, whose parent company, Letton
Investments Ltd., specializes in making investments in
online gambling properties and operations, the dealings have
thus far been easy going.
The online bingo
industry itself has been easy going as well. What I mean by
this is unlike the online casino industry, where going
mainstream is more of a touchy issue, online bingo is being
readily embraced by large online media giants like Yahoo!
and MSN. With software giants like Parlay and immensely
popular online bingo rooms like Bingo Workz, the industry
has huge potential for even growth...and yes, acquisitions.
Originally published:
January,
2008 | Categories:
Bingo
