BetClic Buys GigaMedia’s Share of Everest Poker
French Casino and Gaming Group Becomes Sole Owner Of Everest Gaming
French gaming group Betclic has bought out its former partner, Gigamedia’s, stake in Everest Gaming.
GigaMedia wrote off its stake in Everest earlier this year after some horrific finalcial performances and the 33 percent it owned has now been taken over by Betclic according to Le Figaro.
Details of the deal were not published. Beclic had previously raised its stake in the joint venture form 60 percent to 66.66 percent.
Ignacio Martos, CEO of Everest Group BetClic, said, "With this operation, BetClic Everest Group confirms its ambition to be a key player on a European level in the poker industry as with sports betting. We are continuing the reorganization and rationalization of our business by sharing costs, making play synergies, and partnering leading to better serve our players.”
Martos also confirmed that the Everest brand, which has a French license, will continue for the time being at least.
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