Online gambling Mahjong Specialists Make a Deal| Video Slots News> News Archive> 2006> October> Online gambling Mahjong Specialists Make a Deal |
12 Oct 2006
A leading online gambling gaming software provider has recently announced that it will sell off three of its wholly-owned subsidiaries. These entities are not, according to the online gambling gaming company, aligned with the group’s primary business strategy. The online gambling company has established itself in the industry as a Mahjong game developer by many other online gambling game development companies.
According to CEO Albert Barbusci, of the online gambling gaming firm, the sale of these subsidiaries means that the company can ‘… now exclusively focus on concluding software licensing agreements with online gaming operators in the emerging market of China. The company plans to implement its strategy of generating Internet player interest in China where mahjong is regarded as a national sport.’ He and his board of directors, last year, came to the agreement that the three entities were simply not compatible with the online gambling company’s main business activity.
The online gambling developer has entered into a ‘non-arm’s length’ contract, which is still subject to regulatory approval, involving the sale of all shares. The shares are to be sold to CPC Econometrics senior officer Barry Sheehy for an agreed amount of US 300,000 dollars. The deal between the two online gambling industry companies seems to please and benefit both of the parties involved. With the growth of the online gambling industry today, it is easy to understand why buying and selling business entities such as these have become common practice among market leaders.
