The poker and online casino gambling giant Party Gaming has today announced that it intends to make some acquisitions with a view to entering the lucrative sports betting market.

The online gambling operator plans to fund its expansion with the proceeds from a bonds issue that could raise as much as £500m. The move into sports books could be a wise move, any diversification away from online poker will be welcomed by shareholders.

Party Gamings shares dropped considerably this week on the back of news that the U.S. Government is looking to restrict consumer access to internet gambling.

The world cup, however, appears to have been the main catalyst. Many poker room operators have reported a drop in players and profits during the tournament where as sports book operators have had enjoyed huge increases.

The possibilities for cross promotion among the Party Gaming brands are considerable, this is a company that has a huge database of players.

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