News from Empire Online

Sources close to Empire Online reported on Monday that the company is looking outside the online gambling industry for new ways to invest its $250 million cash pile, collected in February this year by selling the Empire Poker division to PartyGaming.

Empire Online's chairman, Leonard Steinberg, also would step down at the end of October to be replaced by Richard Rosenberg. The company hasn't explained the reasons of Steinberg's departure, but Reuters reported that this may be related to the recent US and French enforcement actions against executives of online gambling companies.

Empire Online is one of the biggest and important companies in the online gambling industry.