Hints of Merger by Online Gaming Software Company
Parlay Entertainment, a major supplier of online bingo software, made an announcement yesterday that it had “issued 50,000 common shares to a third party pursuant to the acquisition of certain assets of that third party by Parlay Games Limited.”
The move seems a likely prelude to a merger, perhaps with another online bingo brand. The third party was formerly a Parlay licensee, the news release adds.
If Parlay is looking at a merger, it could be an attempt to better distinguish the online bingo software developer in opposition to big competitors like Microgaming, Playtech, and 888/Dragonfish, all of whom operate in the online bingo software industry. Mostly European-facing Unibet is currently Parlay’s key client.
Parlay holds a number of Internet bingo patents and claims to be the first company in the world to “develop and deploy a commercial Internet bingo product.”