Bwin scores major coup


Deal agreed with major Italian online gambling group

Vienna-listed online gambling group Bwin has scored a major coup and some formidable positioning in the Italian market following an agreement to acquire the Italian group Gioco Digitale. With hopes high for an imminent and positive regulatory system in Italy the agreement is especially valuable and significant.

Closely held Gioco boasts it is Italy's first independent online gaming site and offers mainly poker, betting and skill games, but there is clearly good potential for expansion into other genres under the Bwin banner.

A timeframe for the takeover has yet to published, and the terms of the deal have not been disclosed, although some idea of value can be deduced from a report in the Italian newspaper Finanza & Mercati, which said said last week that an investor had bought 10 percent of Gioco for more than Euros 2 million. This fits with previous estimates of around Euro 90 to 100 million.

Industry observers say that the burgeoning Italian market is ripe for the sor of consolidation tha the Bwin deal represents. Gibraltar-based Party Gaming recently acquired an online poker operator, while 888 has said it is close to buying an as yet unidentified asset.

A recently passed law due to be enacted this autumn , means that poker cash games and other games of chance will be permitted in Italy in addition to sports betting and online poker tournaments, raising the profile of the market.

According to the Bwin announcement, the boards of both companies and its shareholders have agreed on principle terms for the acquisition of 100 percent of Gioco Digitale, but did state that although the acquisition was progressing, there could be no certainty that a final binding agreement on the transaction will be reached.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

5mins ago someone from United States played Game Show

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    21
  • Members Online
    363
  • Guests
    1,898
Highest Community Rated Online Casinos
NextCasino
  (142 Ratings)
Bet365 Games
  (160 Ratings)
Unibet Casino
  (124 Ratings)
CasinoLuck
  (215 Ratings)
Betsson Casino
  (205 Ratings)
Redbet Casino
  (137 Ratings)
Spin Palace Casino
  (111 Ratings)
Betsafe Casino
  (177 Ratings)
Mr Green Casino
  (272 Ratings)
Slotty Vegas
  (102 Ratings)
32 Red Casino
  (294 Ratings)
Guts Casino
  (167 Ratings)
Liberty Slots Casino
  (171 Ratings)
Winner Casino
  (329 Ratings)
BitCasino.io
  (166 Ratings)
ComeOn Casino
  (231 Ratings)
Sin City Casino
  (94 Ratings)
Vera John Casino
  (169 Ratings)
Intertops Red Casino
  (119 Ratings)
BETAT Casino
  (188 Ratings)
Thrills Casino
  (126 Ratings)
Intertops Casino Classic
  (107 Ratings)
Casumo
  (128 Ratings)
Ladbrokes Casino
  (149 Ratings)
Royal Vegas Casino
  (128 Ratings)
Jetbull Casino
  (100 Ratings)
Whitebet Casino
  (87 Ratings)
Slotland
  (292 Ratings)
Vegas Red Casino
  (185 Ratings)
InterCasino
  (132 Ratings)


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