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Online Casinos merging, partnering, acquiring in 2006

It is clear that 2006 continues to be the year of online casinos merging, partnering, and making acquisitions in the highly competitive gaming and online casinos industry.

The online casinos industry is a $12 billion dollar a year venture, but has nevertheless, despite its great profitability, been met with regulatory and legal problems all across the globe in recent times. Online casinos face big detractors in the United States, as the US Congress has aimed to ban credit card companies from operating with online casinos. Online casinos have also been the subject of regulatory measures in Asia, and recently in Italy, as many British online casinos are aiming to test this new Italian ruling.

Online casinos in Antigua and Barbuda are also pressing the United States to comply with a recent World Trade Organization (WTO) ruling on the legality of online casinos. Nevertheless, despite these negative aspects, there are some positive backers of online casinos, including the recent World Series of Poker champion, a player who began his career at online casinos, Greg Raymer.

Furthermore, the online casinos industry is becoming so profitable, that many online casinos are partnering and acquiring each other this year, in a year of mergers and acquisitions.

For example, a large online casino gaming company has announced that it has reached an agreement with a Silicon Valley company that has developed one of the world's most advanced online software solutions for poker -- to provide technology and software for re-launching the firm’s online casinos.
"This relationship will make it possible for us get to market faster with a superior product," said Steve Lipscomb, founder and CEO of the large gaming firm. "Now, like most companies that have been successful in the online gaming space, we will be able to build a unique offering and control our own destiny. We have been searching for a powerful alternative to our current technology for some time and are convinced that this is the perfect solution."
The California firm, the designer of the software that currently powers the poker room for other online gambling portals, has long been established as a pioneer in gaming technology. Building upon a ten-year history of developing and operating GamesGrid, the world's first graphical online backgammon club, the firm set out to build a ground-breaking platform to support the next generation of online gaming. The company has customized its unique platform for sophisticated marketers requiring strong branding capabilities, flexible and innovative functionality, and support for multiple languages and currencies.
Chris Derossi, CEO of the firm explained, "We are very excited about the prospect of providing the product that can take the (partnering firm’s) online poker offering to the next level. We believe our Foundation Software, coupled with (the partnering firm’s) innovation and commitment to the poker player will create an unmatched gaming site."
"This deal will finally allow us the opportunity to innovate the online gaming experience and deliver a product worthy of (our) brand," concluded Lipscomb.




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