Bwin and Party Gaming to Complete Merger
It has been months in the making, but the new partnership between Bwin and Party Gaming will finally come to fruition at the end of the month. The news comes shortly after the two companies held a shareholder meeting, in which both sides of the deal showed a great deal of support for the proposed merger.
The new online gaming group will focus exclusively on regulated and newly opened markets. PartyGaming must be careful, after its recent trouble with the American gambling market, and the new company will only focus on countries that have legalized online gambling. Together, Bwin and PartyGaming will provide cross-platform gaming software solutions for bingo, poker and casino games.
The deal will be completed on March 31st, a week after Bwin ceases the sale of its stock on Vienna’s stock exchange. On April 1st, the first day of the deal, those hold shares from the company will receive 12.23 depositary interests for each share they hold.
The new merger is expected to take the online gambling industry by storm, and smaller gaming companies are looking to expand quickly in order to compete with the new kid in town.
