Takeover Panel to force Partygaming and Bwin Interactive Entertainment to reveal merger details
December 14, 2009
At the annual eGaming Review Awards 2009 a couple of months ago, it was suggested that a merger between online gaming giants Partygaming and Austrian company Bwin Interactive Entertainment was on the cards. Bwin fought off stiff competition from their rivals to take home the illustrious Operator of the Year award this year, but it is believed that by next year’s awards, the rivalry will have ended.
Speculation over the merger, which is allegedly worth over £2 billion, was first reported in The Times last week, who claimed that formal talks between the two UK Bingo corporations have taken place. Since then, the Takeover Panel have been pushing for an end to speculation, and is reportedly forcing both companies to reveal their plans.
Merger prospects have been further enhanced by reports that Partygaming has been aiming to target a larger market and become a leading sportsbook operator and improve its online services in UK Bingo, poker, and casino games. Meanwhile, Bwin Interactive Entertainment has also declared plans to participate in industry consolidation, demonstrated by their recent £115 million acquisition of Italian poker room, Gioco Digitale.
As Partygaming has a market value of approximately £1 billion and Bwin is valued at £1.2 billion, the imminent deal has been classed as a ‘merger of equals’, although analysts believe that Partygaming has the capacity to fund an outright acquisition.
Other News:If you want Wedding entertainment come to us.
new Photovoltaic Panels
Comments
Got something to say?
