Games: merging bwin and PartyGaming
It is the birth of a new global leader in Internet gambling traded. The operator of online paris Austrian Bwin announced Thursday an agreement to merge with its British rival PartyGaming, a wedding to 1.7 billion dollars.
Bwin, listed on the Vienna Stock Exchange and specializes in sports already claimed the leadership position in Europe with a turnover of 373 million euros in 2009.
The second, quoted in London and more focused on poker and casino games, carried 309 million in sales last year. The new group will be listed in London and based in Gibraltar.
The shareholders will own 51.6% Bwin – those of PartyGaming else – but it redeems PartyGaming.The merger will be completed in the first quarter of 2011.
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