Forbes: Big Venture Capital Still Pouring into Mobile, Online Gambling

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Forbes Big Money Still Pouring into Mobile, Online GamblingDespite a rough first full year for most of online gambling’s early entrants into the regulated and legal online and mobile gaming environments of New Jersey, Delaware, and Nevada, optimism about the potential of this nascent industry hasn’t faded among some heavyweight investors.

According to a report published Thursday, big money continues to pour into this market from some of the most prominent names in the world of venture capital.

“CVC Capital Partners’ agreement to purchase a controlling stake in Sky Bet for $1.25 billion is the latest big bet by private equity investors on an online gambling business, part of a wave of deals that is reshaping the online gambling industry,” Forbes reports.

Online gambling has attracted the biggest names in private equity recently as the buyout business searches for new industries to financially engineer and roll-up. Not so long ago, the online gambling business was a kind of wild-west environment that big institutional investors largely avoided. CVC is the largest private equity firm based in Europe.

Even Apollo Global Management and TPG — two other gargantuan private equity players — are investing hundreds of millions of dollars into the online gambling providers of their choice. And there’s no sign the momentum of investment monies will subside in this industry any time soon.

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