PartyGaming and Bwin have officially announced their long awaited merger, while rumors have been circulating since 2009. The proposed merger between the two companies is expected to take place in the beginning of 2011.
Together they will become the biggest online gaming company in the world offering Online Poker, Casino Games, Bingo Online and Sportsbets.
The merger make perfect sense with the recent announcement that poker may soon become legal in the United States. In 2009 the combined income of both companies was an estimated $892 million, news of the recent merger cause an 20% increase of the PartyGaming's stock trading on London Stock Exchange.
PartyGaming & Bwin Merger Official
The combining of these two companies will help increase traffic and together target new markets including the United States when the market becomes regulated and licenses become available. With many plans for the future and development of the companies, their aim is to branch out even further and create the best online experience for their customers with the latest innovative online games and products. To complete the merger they still need to get approval from at least 75% of the companies shareholders.
PartyGaming Jim Ryan commented
"This is by any measure a transformational deal - one that makes great strategic, operational and financial sense. By joining forces we will be in an even better position to exploit the growing online gaming market through market-leading B2C brands across all four of our product verticals. A combined PartyGaming and bwin will have leading market positions in poker, sports betting, casino and games which includes bingo."
Bwin Norbert Teufelberger commented
“This merger of equals 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.”
PartyGaming is located in Gibraltar and listed in the London Stock Exchange, PartyGaming offers popular brands which include PartyPoker the former number 1 poker site before the US poker ban, PartyCasino the world largest online casino, PartyBingo and PartyBets the sports betting facility, all brands can be access from one account.
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Bwin is situated in Austria and is listed in the Vienna Stock Exchange, Bwin was formerly known as PokerRoom one of the first ever online poker rooms which was started in 1999. Bwin offers Online Poker, Casino Games, Online Bingo and Sports betting, players can access all brands from one account.
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