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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.
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