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The merger between bwin Interactive Entertainment AG and PartyGaming Plc will create the world's largest publicly listed online gaming group. The new company will be ideally positioned to open up new markets around the world and annual synergies resulting from this merger are expected to total approximately 55 million Euros.
"The online gaming industry is going through a phase of consolidation, making market players' size and geographic diversification more crucial than ever," explains Norbert Teufelberger, Co-CEO of bwin. The new company will operate worldwide through its well established brands under the new name Bwin.Party Digital Entertainment Plc. Bwin shareholders will hold 51.7% of the shares of the new company and PartyGaming shareholders will hold 48.3%. Since both sites offer superior brands it is their hope that the merger will make it easier to expand their services in all key product segments including poker, sports betting, casino, bingo, and all other real money games.
Bwin.Party headquarters will be located in Gibraltar and will be listed on the London Stock Exchange. "Our many years of online know-how, healthy balance sheet, and one of the largest pools of poker liquidity in any regulated market will make us an attractive business partner," clarifies Teufelberger, who will head up the company as Co-CEO together with Jim Ryan, PartyGaming's current CEO.
A complete merger plan containing full details of the planned merger was released earlier this week. Those who are interested can download the full document from Bwin's corporate website at www.bwin.org.
As always, stay tuned to Casinofan for more news and updates.
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