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News > 2006 > 2006 July > 13 Jul 2006 > 13 Jul 2006 > Fairground Gaming Acquires Online Casino Group

Fairground Gaming Acquires Online Casino Group
13 Jul 2006

The recently merged Spin Palace-Piggs online casino group has been taken over by London listed company Fairground Gaming Holdings for $66 million. Trading of the shares on the London AIM was suspended as the online casino deal went through. Owners of Fairground Gaming have announced that the company has entered into a pending agreement to purchase all of the online casino businesses and subsidiaries.

Evan Hoff, Chief Executive of Fairground Gaming, said that the online casino groups will be the central platform through which Fairground Gaming’s consolidation strategy will be launched. He explained that both of the online casino sites are well managed and cash generative businesses and he believed that both online casino sites had a lot to offer and contribute to enhancing the future revenues of the company.

The online casino sites are powered by Microgaming which is considered by the Fairground directors to be the leading provider of software to online casinos. The Spin Palace Group consists of two recently combined businesses, and is a licensed online casino and poker group offering over 200 different games to a global customer base. The acquisition is the first by Fairground Gaming since floating on AIM in October 2005, and is part of the company’s policy of expansion.