Results News results for the search term: PARTYGAMING AND BWIN PLAN MERGER
7/30/2010 11:09 AM
partygaming and bwin plan mergerPartyGaming PLC plans to unite with Austrian-based sportsbook Bwin.
Jim Ryan, CEO of Party Gaming:
This is a transformational opportunity for both our companies to create the world’s largest listed online gaming business. With market-leading positions in poker, sports betting, casino and games (in particular bingo), the Enlarged Group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cashflow generation and a highly experienced management team.
Financial details of the planned merger were reported by the
Wall Street Journal.
The new company will be owned 48.36% and 51.64% by PartyGaming and Bwin
shareholders respectively and will be listed on the London Stock
Exchange.
While both publicly traded companies are financially secure,
Bwin (SBR rating C-) has maintained a lower rating due to its handling of
sportsbook complaints. | View full
PartyGaming, Bwin merger report