Forbes on Wall Street money in online gambling

Here is the article:
http://www.forbes.com/sites/nathanva...bling-forever/


It notes that Jason Ader (SpringOwl Asset Management) met with Ruth Parasol (California-born founder of PartyGaming) and bought shares becoming the 3rd largest shareholder.


It talks about Party being for sale:

In July, 888 struck a deal to buy Bwin.Party for about $1.4 billion. The deal would create a serious rival for Amaya and Pokerstars, which currently dominate online poker outside of the U.S. But it’s not a done deal yet.

We all know that online poker is still pretty limited in the US:

There had been assumptions that such a reentry would be swift under a new Wall Street-backed ownership structure. Still, with big financial firm backing, the online gambling business looks a lot different today than it did just over a year ago.

I like the... Even Amaya’s PokerStars has been yet unable to get back into New Jersey after just about one year of trying. There had been assumptions that such a reentry would be swift under a new Wall Street-backed ownership structure.

I am amazed at how many rich Israelis are involved. They said billionaires several times. Sheldon Adelson may have some competition if he is trying to keep other billionaires at bay.