Further Consolidations Seen in Online Casino Industry

23 Nov 2006

The new online casino law, originating in the United States brought about many changes in the online casino industry. While some sites were forced out of the market, others insisted on staying to see what the great legal minds had to say about the new law. Whether online casino companies decided to go or stay, many were forced make wise business decisions, including selling out or merging with other companies.

Recently, the online casino market saw the consolidation of further sites. Bet Corp online casino was forced to admit defeat and sold out to Bodog. The latter online casino company bought Bet Corp for $9-million. In better days, Bet Corp was worth many times more. It operated the highly successful sportsbook, BetWWTS as well as other minor league online casino sites. Unfortunately, 85% of the site’s customers originated in the United States, which led to the company’s shareholders to a sell-out agreement. Bodog, on the other hand, is privately owned and therefore not answerable to shareholders.

Online casino gamblers who were previously with Bet Corp are now the proud owners of a Bodog account. Bodog now owns all of Bet Corp’s operating subsidiaries, and it’s a waiting game to see whether billioaire Calvin Ayre, made the right move when he purchased Bet Corp online casino company.