It’s rare that the online gambling industry is full of gossip, but Bwin and Party Gaming have had industry insiders talking to quite sometime. It was recently rumoured that the two online gambling giants would be merging, and now there has finally been some confirmation!
The plans have finally been announced: Party Gaming will hold $51.64 of the brand’s ownership while Bwin has 48.36%. The companies two CEOs will have a joint partnership and split the salary 50/50. The whole venture has been divided up very nicely, and it seems that Bwin and Party Gaming will enjoy a great business relationship together.
“This merger of equals makes great strategic, operational and financial sense”, says Co-CEO Norbert Teufelberger.
The merger is expected to be finalized in the first quarter of 2011. With two companies of such immense sizes coming together, it will certainly take a whil for the joint venture to get up and running.
The announcement of the merger had many industry insiders and investors excited, and it was reflect on the stock market floor. The day the merger was announced, both companies saw increases of nearly 20%!