• PartyGaming to Merge with Bwin Interactive

    29 July 2010

    Newspaper

    It was announced today that two big powers in the European online gambling market will merge into one. In a reverse takeover, PartyGaming plans on acquiring Bwin Interactive in a deal valued at $1.76 billion dollars. This would create the world’s biggest traded online gambling company.

    According to Bloomberg,

    “The merged company, which had reported sales of 682 million euros, will be 51.6 percent owned by Vienna-based Bwin, with PartyGaming of Gibraltar holding the rest, the companies said in a statement today. The new company would be listed in London and have leading positions in online poker, sports betting, casino and games such as bingo, they said.”

    So what should anyone make of this merger? Accordeing to Gianmarco Bonacina, an analyst with Equita SIM SpA in Milan this moves puts the combined company in a better financial position versus PokerStars and FullTilt as well as positioning them to take advantage of emerging markets.

    Gianmarco told Bloomberg,

    “From an industrial point of view this is both an offensive and a defensive move. In Europe, Bwin and PartyGaming are losing market share in poker versus Pokerstars and Fulltilt, so the combination will protect them. In the U.S., the move is offensive. They want to attack that market and are in a better position if they combine.”

    Since as of yesterday, the move to regulate online gambling in the United States has been put in motion, PartyGaming Chief Executive Officer Jim Ryan told reporters, “We will immediately be a leader in these markets as they open up.”  Also considering online gambling rule revisions are Canada, Denmark, France, Italy, Ireland and Spain.

    The remaining hurdle of this merger would be to get shareholders to vote in favor of it which the board members of each company will unanimous support and ask each shareholder to vote in favor of it.

    Related News

    • 24 February 2017

      Mexico Welcomes Net Entertainment Through Codere Deal

      Codere is a company that operates online casinos in a few different regulated markets. These markets include Italy, Mexico and Spain. They have partnered with Net Entertainment in the past to provide content for their casino sites, and a new deal between these two companies has led to NetEnt's official launch into Mexican territory. Entering Mexico Online gambling is regulated in Mexico, and this is a big part of the reason why Net Entertainment has decided to enter.

      Read full article
    • 01 February 2017

      US Attorney General Pick Sessions May "Revisit" Online Gambling

      One of the most important pieces of legalese that has come down in the United States for online gambling in the United States was a 2011 opinion about the Wire Act of 1961. The Wire Act was previously used as evidence that online gambling is illegal in the United States (and is the other major US law affecting online gambling from the UIGEA).

      Read full article
    • 10 January 2017

      Virtual Reality Online Casinos in 2017

      If you go back a couple of years, Microgaming was the first company to present a virtual reality casino game that included current technology. It was a roulette game shown at industry trade shows, and it got a tremendous reception. A lot of players thought that smartwatch apps were going to be the next big thing for the online casino industry, but instead, it's virtual reality, or VR for short. How VR Online Casinos Work There are two main components of a virtual reality casino.

      Read full article