by Renee Israel
After Party Gaming and bwin signed an iconic partnership deal earlier this year, it was only a matter of time that other groups sought out strategic partners to counter the huge market interest that this union would create.
The Sunday Telegraph reported that Ladbrokes PLC, the UK bookmaker, has entered into "preliminary talks" with the online gambling group, 888 Holdings.
According to the publication, Ladbrokes offered to pay around 70 pence a share, or £240 million.
It should be remembered that Ladbrokes tried to buy 888 four years ago for much more, but the deal fell through after the US authorities started its investigations on gambling groups.
Ladbrokes has played down rumours of talks and said in a statement: "There can be no certainty that these discussions will ultimately lead to an offer for 888 being made, nor as to the terms of any such offer."
While 888 Holdings refused to comment on the reports in the Sunday Telegraph, its stocks jumped 13% to trade at 49c on the London Stock Exchange.
It is now valued at £169 million.
Ladbrokes saw its shares rise by 0.4% in London last week, valuing the company at £1.2 billion.
888's third quarter total income operating income was $61 million
The giant gambling group provides software and services to a large number of operators, including Harrah's Entertainment Inc.
