PartyGaming and bWin Merger Announced - Online Casino Home


UK France Germany Italy Spain

PartyGaming and bWin Merger Announced

July 30, 2010

Ever since PartyGaming settled accounts with the United States Department of Justice, there were opinions voiced that the company will go in for a major merger. The possibility of a merger with bwin has been doing the rounds for several months. But now everything is final. A merger implementation agreement between bwin Interactive Entertainment AG and PartyGaming PLC was signed on July 29 2010. The combined entity will have 48.4% ownership of PartyGaming shareholders and the remaining 56.6% ownership of bwin shareholders. It will be incorporated in Gibraltar and listed on the London Stock Exchange.

This merger will result in the creation of the world’s largest listed online gaming company, which will be the market leader in all key verticals of online gaming. These include poker, sports betting, casino and bingo. The combined estimated 2009 revenue of PartyGaming and bwin is in the region of €682 million and the estimated earning is €196 million. The proposed merger is expected to significantly increase these figures because of the synergies involved.

Norbert Teufelberger of bwin and Jim Ryan of PartyGaming will be Co-CEOs of the new company and key management positions will be held by senior managers from the two companies. Martin Weigold will be Group Finance Director and Joachim Baca will be Chief Operating Officer. Teufelberger, who is currently Co-Chief Executive of bwin said, “This business combination makes great strategic, operational and financial sense. We will be in pole position to capitalize on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry.” Jim Ryan who is presently Chief Executive of PartyGaming also put forth his view in the press release. He said that the combined entity will be best placed to “exploit the growing online gaming market”. He added that merger would result in a strong balance sheet, significant cash flow generation and a highly experienced management team.

The mechanics of the merger are expected to be as follows. The assets and liabilities of bwin will be transferred to PartyGaming thereby forming a European joint stock company incorporated in Gibraltar. When the merger is completed bwin shares will be de-listed from the Vienna Stock Exchange and the shares in the combined entity will be listed exclusively on the London Stock Exchange. Also a new independent, Non-Executive Chairman will take charge of the board of the enlarged Group. There will be equal executive and non-executive representation from current members of the PartyGaming Board, the bwin Board and senior management. The proposed merger is contingent to certain statutory regulatory formalities being completed.

More Online Casino & Gambling News

Go Wild Casino Ring Bearer Promo - (Added October 13, 2010)

Casino Joy Online Casino Slots Climb - (Added October 6, 2010)

New Online Casino Games at Bet365 Casino - (Added September 29, 2010)

Ladbrokes Lord of the Rings Promos - (Added September 1, 2010)

Special Promos at Red Flush Online Casino - (Added August 25, 2010)

Oktoberfest Promo at Mansion Casino - (Added August 18, 2010)

Villento Casino Safari Promo - (Added August 11, 2010)

Microgaming Slots in Ladbrokes Promos - (Added August 1, 2010)

PartyGaming and bWin Merger Announced - (Added July 30, 2010)

More Online Casino & Gambling Related News »

Online Casino Reviews

More Casino Reviews »

Recent Articles

Cryptologic Over Poker

Over Poker is a new video poker variant from Cryptologic that offers a unique move by which players can open higher levels.

Cryptologic Bonus Video Poker

Cryptologic offers a video poker series in which the discarded cards can be dealt again.


Cashing Out at Online Casinos

The article provides some pointers to new players to facilitate the cashing out process.


Caribbean Stud Poker Strategy

Caribbean Stud Poker strategy outlines when the player must fold and when he must call after seeing his hand and the dealer’s up card.


The History of Blackjack

Blackjack started in European countries in the 17th century and realized its full potential in the United States in the 20th century.

More Casino Articles »