Bwin and Party Gaming merger?


The word is so strong that PartyGaming has excited the attanetion of the Takeover Panel

No less a respected news source as the The Sunday Times has claimed that merger talks are in progress between Party Gaming and the giant Austrian online gambling group Bwin - a deal estimated to be worth some GBP 2 billion.

The newspaper reported over the weekend that the two sides have been holding on-off talks since the summer. PartyGaming, led by chief executive Jim Ryan, is expected to be asked by the Takeover Panel to clarify the position before the market opens Monday morning.

A year after floating, Party Gaming suffered a huge setback when America made internet gambling illegal. Groups including PartyGaming closed their American operations and lost huge amounts of revenue.

"Speculation about consolidation in the online gaming sector has been rife in recent months," the newspaper report claims. "A tie-up between PartyGaming and Bwin would be logical given the former’s ambition to grow its presence in sports betting, an area where the Austrian group has particular strength.

"PartyGaming, based in Gibraltar, is best known for offering poker and casino games. It seems likely that if the two businesses can agree a tie-up, the deal would be structured as a merger of equals."

The Sundat Times quotes an insider who told it that discussions were at an early stage and there was no certainty that a deal would be agreed. “Everyone in the industry is talking to everybody else,” said the source.

Shares in PartyGaming closed on Friday at 256p, valuing the business at GBP1 billion. Bwin, which is listed on the Vienna stock exchange, has a market value of Euro 1.3 billion (GBP 1.2 billion).

In April this year, Party Gaming agreed a settlement with America’s Department of Justice to ensure that it would not face prosecution over its activities in the United States. It agreed to pay $105m (GBP 65m) as part of the arrangement. That will make it a far more attractive partner to Bwin.

The Times also records that gambling groups including London-listed 888 Holdings and Sportingbet as well as Sweden’s Unibet, have all been examining possible deals.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

2mins ago someone from United States played Billion Dollar Gran

Casino Of The Month

Casino of the Month

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    21
  • Members Online
    408
  • Guests
    1,579
Highest Community Rated Online Casinos
Guts Casino
  (259 Ratings)
32 Red Casino
  (501 Ratings)
Club USA Casino
  (369 Ratings)
Mr Green Casino
  (365 Ratings)
Buzzluck Casino
  (237 Ratings)
Lucky Red Casino
  (285 Ratings)
Videoslots.com
  (232 Ratings)
Nexxedge
  (106 Ratings)
Bet365 Games
  (239 Ratings)
CasinoRoom
  (229 Ratings)
Unibet Casino
  (212 Ratings)
NextCasino
  (229 Ratings)
Raging Bull
  (161 Ratings)
CasinoLuck
  (304 Ratings)
SlotsMillion
  (151 Ratings)
Betsson Casino
  (303 Ratings)
TradaCasino
  (90 Ratings)
Redbet Casino
  (217 Ratings)
Betsafe Casino
  (280 Ratings)
Vera John Casino
  (240 Ratings)
ComeOn Casino
  (333 Ratings)
Casino Extreme
  (250 Ratings)
Thrills Casino
  (222 Ratings)
Ladbrokes Casino
  (193 Ratings)
Slotland
  (405 Ratings)
Slotty Vegas
  (162 Ratings)
Bet365 Casino
  (480 Ratings)
InterCasino
  (188 Ratings)
Win A Day Casino
  (436 Ratings)
Betfair Casino
  (295 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus