Party køber Empire

Empire Poker har i dag offentliggjort, at Partypoker køber sig ud af skænderierne:


RNS Number:4235Y
Empire Online Limited
14 February 2006

Proposed settlement of litigation with PartyGaming Plc ("PartyGaming") and
assignment of related "skin" activities subject to Shareholder approval

Highlights

• Settlement of litigation with PartyGaming

• Assignment of Empire Online"s PartyGaming related "skin" operations to
PartyGaming

• $250 million cash payment

• Company reaffirms expectation that its continuing businesses will
contribute $37 million of net profit in the year ended 31 December 2006.

• Proposals conditional upon shareholder approval - voting authorities in
favour of the proposals have been obtained from shareholders holding in
aggregate 56.0% of the ordinary shares in the Company

Noam Lanir, Chief Executive of Empire Online, said today:

"This transaction removes the uncertainty of litigation between Empire Online
and PartyGaming. It puts the Company on a stronger footing and will enable
management to focus on growing its continuing businesses. We will consider
carefully how to use the net proceeds from this sale to the maximum benefit of
shareholders."

Enquiries:

Empire Online Limited +357 (2) 5 847 700
Noam Lanir, Chief Executive Officer
Andrew Burnett

Numis Securities Limited +44 (0) 207 776 1500
Jag Mundi, Head of Corporate Finance
Lee Aston, Director, Corporate Finance

Citigate Dewe Rogerson +44 (0) 20 7638 9571
Simon Rigby
Sarah Gestetner


Proposed settlement of litigation with PartyGaming and assignment of related "
skin" activities subject to Shareholder approval

Introduction

The Company announces that it has today entered into an agreement with
PartyGaming to settle all outstanding litigation between them and effectively to
sell the business and assets of its PartyGaming "skin" activities (i.e.
operations designed to direct players to one of PartyGaming"s gaming platforms)
to PartyGaming in return for a cash payment of US$250 million, payable on
completion.

Under the terms of this agreement the existing contractual arrangements with
PartyGaming will be terminated and Empire Online will assign to PartyGaming its
interests in certain domain names related to the PartyGaming "skin" activities
including "empirepoker.com" and "aceclub.com".

The agreement is conditional upon the approval of Empire Online shareholders by
way of an ordinary resolution.

There is no requirement either under BVI law or under the AIM Rules to obtain
shareholder approval for a disposal of this size, but the Directors consider
that, given the significance of the transaction and settlement and for the sake
of good governance and practice, shareholders should be appraised of the
Proposals and be given the opportunity to vote on the Proposals.


Background to the Proposals

Empire Online had a close working relationship with PartyGaming from 2002, when
it commenced marketing PartyGaming"s online casino brands. In 2003, Empire
Poker was launched under a white label or "skin" agreement with PartyGaming and
over time became PartyGaming"s most important poker skin, providing
approximately 70 per cent. of all players provided under its skin agreements.

Following the acquisition of ClubDice and Noble Poker in August 2005, an
increasing proportion of new player sign ups and revenue has been derived from
activities not related to PartyGaming and the Directors confirm that in the year
ended 31 December 2006

Hvad mon så med mine $400 eller fjernsyn? De siger bare, de vil vente til efter en omstillingsfase og derefter vende tilbage til mig...?

Tradal (ejer af EP.com) sendte i går aftes en mail ud til deres affiliates med besked om at de skulle skifte deres Empire Poker aff link ud med nogle fra Noble Poker eller CD Poker.

Pbaek, hvad fabler du om?

@TA
De havde en promotion hvor man fik et fjernsyn for xxx raked hands, de kender bare ikke nogle forhandlere i DK, så de tilbød PBaek $400 istedet for.

Empire Poker kører denne fortiden

40% UP TO $200 RELOAD on your next deposit!

Bonus code: PLAYFEB200
Make a real money deposit before February 18, 2006 (23:59 ET) using bonus code PLAYFEB200 and get a 40% bonus, up to $200.

@TonyAdams - det som Mighty sagde. Jeg skrev om det i et andet indlæg. Det var bare det jeg fabler om;)