Partygaming, one of the worlds biggest online gaming companies, and owners of online bingo sites such as Foxy Bingo, Cheeky Bingo and Think Bingo confirmed that it is continuing in talks with other gaming companies "regarding potential consolidation opportunities". Since the statement on Friday the stock prices has rallied and has seen high levels interest with the price moving between 275p (prior to the announcemet) and 300p. Taking account that the money markets have seen a downward trend during this period as a result of the US President announcement of sanctions on the banking industry, the increase in the share price is somewhat unique.

The company has not commented on who the talks have been with, however, with the increasing competition in the UK online bingo sector and many of the smaller companies struggling, Partygaming would certainly have a choice. It is not certain whether the plans of Partygaming is to be the buyer or the seller and they may in fact be looking to reduce the brands that it operates. Bingosupermarket would suggest that over the next 18 months consolidation within the UK online bingo industry will be very significant.

The gaming giant confirmed in a statement last week:

Further to recent press speculation, the Board of PartyGaming Plc confirms that it is continuing to hold discussions with a number of companies in the gaming sector regarding potential consolidation opportunities. As all such discussions remain at a preliminary stage, there can be no certainty as to whether or not such discussions will result in any form of transaction with any party.