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| | | | | 23 Nov 2006
The online casino software provider, Playtech, is marking an important milestone in the progress of the company by buying part of Tribeca Tables, a company that rivals Playtech in the online casino software market, for about $75 million. Tribeca Tables specializes in providing poker software, while Playtech's portfolio revolves around many casino games. Some online casino sites working under the Tribeca Tables' licenses will become part of Playtech's ring of online gambling sites.
Playtech is aiming at expanding their geographical reach as the United States' online casino market becomes off limit to gambling firms. The condition of the online casino industry is a bit shaky, and a purchase of this magnitude could come as a surprise to many, however, Playtech is promoting its interests by gaining control over additional –mostly foreign- possibilities. The entire market is shifting into a more 'global approach', and the online casino software provider is heading on the same lines.
The online casino software developer wants to become the world's leading poker software provider in a world where the United States' market is out of the picture. By passing the Unlawful Internet Gambling Enforcement Act, politics in the U.S. made it illegal for credit companies to work with online casino operators, and most operators are now looking towards the European and Asian markets. Playtech wants to be able to provide operators with new solutions for a new world, and buying Tribeca Tables is a head stop in that direction. Playtech already shows an increase in non-U.S. generated profit, and this will only rise. |
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