Literally one day after the ban on online gambling had been lifted in the United States, PartyGaming announced that they would be combining forces with Austrian gambling giant Bwin.
This joint venture has English bookmarkers green with envy, as the coupling of these two online gambling giants reeks of money. Bwin will be worth an estimated $3.7 billion then. Because the market was there before for PartyGaming, its like Bwin is litereally hopping onto a gravy train that is going to sky rocket their profits. Entering the U.S market means that PartyGaming will be back with a vengeance as they were the number one ranking online casino gaming provider.
There was a federal ban imposed in 2006 in the United States, forcing out many English bookmarkers, as well as other online gaming providers around the world. Now that the ban has been lifted, the move to join forces will be greatly beneficial to both PartyGaming and Bwin.
When the 2006 federal ban on online gambling took place, it hit online gambling companies around the world, and with PartyGaming ranked as the number one online gambing provider, they felt that blow the most as 70% of their customers were from within the United States. It was a substantial hit to take, as PartyGaming’s rank as the number one gaming provider went down to number four.
With the ban lifted, PartyGaming is looking to make a rebound on their losses, and Bwin will definitely help with that.