Home / Poker News December 2009 / Everest Poker to be bought by Mangas Gaming
Everest Poker to be bought by Mangas Gaming
Posted by: James Carter. - Sat, 2009-12-19 12:09
For Everest Poker 2010 is going to be a year of change and renewal as news comes of its purchase by Mangas Gaming.
The details of the purchase of Everest Poker by Mangas Gaming are not yet all clear but it is believed that the deal with be finalized by the end of the first quarter of 2010. 60% of Everest Poker shares will be purchased from GigaMedia for an estimated $100 million. It is believed that clauses in the final agreement will allow for a repurchase of Everest Gaming by GigaMedia in 2013 should the company wish to.
Mangas Gaming already has several interests in the French online gaming market, and with Everest Poker's recent signing of November Nine Antoine Saout some believe that the two companies are heading in the same direction and thus will be able to help each other considerably. In a recent press release, Isabelle Parize the Chief Executive Officer of Mangas Gaming commented:
“We are very proud that Everest is joining our group. It is a great company; it is a brand with an outstanding awareness in the world of poker, well-known for its know-how, its platform reliability, and its strict policies. Mangas Gaming is reinforcing its position as a major European player in both the online poker and sports betting markets.”
It is believed that with the acquisition, Everest Poker will become a main stay of the Mangas empire with other poker site players being directed towards Everest Poker.
