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The Suite Blog >> Leading Bingo Software Bought Out

 

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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

 

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