PartyGaming to merger with Bwin?
- Filed under: Ilari Sahamies, Mike Sexton, Online poker, Poker, Uncategorized, WPT, Ziigmund
- Date: Dec 14,2009
The purchase of WPT was just the beginning for PartyGaming in a quest of becoming the biggest poker site in the world, again. The next step apparently is adding sports book to their supply, as the company has started merger talks with Austrian gambling company Bwin.
PartyGaming is set to welcome Bwin.
The merger would create a huge gambling company worth of £2 billion. Talks about the merger have been held on and off since the summer. If the two sides can agree a tie-up, the deal would be a merger of equals, as the value of both companies are about the same.
PartyGaming is currently offering poker and casino games. The merger, that is expected to be clarified early this week, of PartyGaming and Bwin would be logical, because PartyGaming is looking for new revenues from sports betting, something that Bwin is good at.
PartyGaming has been looking for expanding their business recently under CEO Jim Ryan. Before the UIGEA was set PartyGaming was estimated being worth of £5 billion, nearly 90% of its revenues coming from America. Closing their American operations lost them huge share of poker markets.
Everything is pointing to a fact that PartyGaming is preparing a return to US market. Mike Sexton, the WPT announcer and PartyPoker spokesperson told cardplayer.com that people at PartyPoker are sure UIGEA will be reversed and it will start a poker boom like six years ago, When Chris Moneymaker won the WSOP main event.
Subscribe HSN Newsletter by mail
