PARTY POKER owner PartyGaming says it is in "advanced discussions" to buy the gaming operations of smaller rival Empire Online.
The proposed deal, thought to be worth £20.4m, will see PartyGaming take control of Empire web sites including Noble Poker and Club Dice Casino.
Anti-gaming legislation in the United States in September effectively outlawed internet gambling and sent shares in the sector tumbling.
The online gaming industry is braced for a wave of consolidation, as operators battle to overcome the loss of income from the key US market. 888 Holdings has already said that it is in talks with other firms over a possible deal.
Empire, which has been looking to distance itself from online gaming since the new laws were introduced in the US, said that following the proposed disposal of its gaming assets it will become an investment company.
Shares in PartyGaming gained around three per cent to value the company at £1.2bn - well below the £7bn it was worth in July. Empire shares lifted nearly two per cent.
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