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New York based hedge-fund investor, Jason Ader, well-known t o Gambling911 readers from his earlier victory over IGT was featured in the worldwide media today for his announcement that he intends to propose for election four new independent Directors to the Board of BPTY at the forthcoming Annual General Meeting of BPTY.
Bwin.Party, which is listed on the London Stock Exchange, is the product of a merger between PartyGaming and Bwin Interactive Entertainment in 2011. It owns a network of poker, casino, betting and bingo websites. Ader’s company, SpringOwl acquired a 5.25 percent stake in Bwin.Party in February from the founders of PartyGaming, Ruth Parasol and Russ DeLeon, who sold their 14.3 percent stake as part of a divorce settlement.
As the NY Times feature explained, “it was only a matter of time before United States activist investors turned their focus to European companies.”
Ader was quoted in The Wall Street Journal as saying he does not believe the company’s CEO Norbert Teufelberger should be replaced, and told him "You are like Roger Federer, I'm not looking to replace you, but you are losing. Think about getting a different trainer, different coach, different racquet."
