Bwin and PartyGaming Will Remain As Separate Brands After Merger
With the biggest merger in online gambling history soon to take place with the start of the new year, Austria’s leading sports betting firm, bwin, and the 4th largest online poker room in the world, PartyGaming, have announced they will retain their brand names post-merger.
bwin shareholders will hold a 51.6 percent stake, while current Party Gaming shareholders will hold 48.4 percent. The two brands will operate under an umbrella company, bwin.party Digital Entertainment plc.
Jim Ryan, Chief Executive Office of Party Gaming, will join Norbert Teufelberger to become Co-Chief Executives of the merged company.
The merger would create a business with unaudited net revenues of €696.2m, unaudited clean EBITDA of €193.7m, unaudited profit after tax of €99.4m and unaudited net assets of €1.27bn after consolidation adjustments for the year ended 31 December 2009, according to documents released by the companies in recent days.
- Aaron Goldstein, Gambling911.com
