In a deal valued a just shy of $2 billion, 2 online gaming giants, PartyGaming and bwin, have announced a merger that will create the world’s largest publicly traded online gambling company.
Similar to 2 airlines combining their transit routes, bwin’s sports betting strengths add to PartyGaming’s forte as a provider of online poker, bingo, and casino games. Moreover, since there is currently some overlap between the 2 companies’ gaming offerings, once combined, the new company expects significant operational savings of up to 55 million euros.
The CEOs of the 2 companies, Norbert Teufelberger and Jim Ryan, will be co-chairing the yet-to-be-named new entity.
Since both companies are publically held, shareholders will be called upon to approve the merger in the first quarter of 2011. The new company will be incorporated in Gibraltar and listed on London’s FTSE stock exchange.
This post has been sponsored by US Gold Bureau offering high-roller poker sets featuring gold and silver coins from the US Mint. So you’re able to invest in gold while you raise the stakes for your at-home play.
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