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PartyGaming unconcerned by BETonSPORTS indictment

July 21, 2006

LONDON (Reuters) - Online gaming group PartyGaming said on Friday it was not concerned by the U.S. indictment of rival BETonSPORTS , and might take advantage of the falling share prices that followed.

"The characteristics of the indictment are very far away from what PartyGaming does," Chief Executive Mitch Garber told a conference call.

"PartyGaming intentionally does not take U.S. telephone bets on sports," he added.

Garber said the company was looking for expansion in Europe and had a number of "very advanced" initiatives underway there.

He told Reuters in a telephone call the fall in share prices that followed the BETonSPORTS indictment made acquisitions more attractive and he was evaluating opportunities.

"I've had a very strong M&A focus in my previous life and Martin (Finance Director Martin Weigold) and I have been looking at companies," he said. "Any time price becomes more attractive, I guess deals become more attractive," he added.

Source: Boston Globe

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