More details have come to light with regards to the upcoming merger between PartyGaming and bwin.
First, both brands will be retained. “The online gaming industry is going through a phase of consolidation, making market players’ size and geographic diversification more crucial than ever,” said Norbert Teufelberger, Co-CEO of bwin. Teufelberger goes on to say the brands complement each other well and that the two entities can “…continue to expand our technology lead in all key product segments: sports betting, poker, casino, bingo and games.”
Next, the group will have its headquarters in Gibraltar and will be listed on the London Stock Exchange. Party Gaming is already listed on the fourth largest stock exchange in the world while bwin is listed on the Vienna Stock Exchange. Teufelberger believes an attractive balance sheet combined with years of experience will attract customers, other businesses, and governments.
The merger between PartyGaming and bwin is the largest online gaming merger in history. The two are expected to become one at the end of 2011 Q1. After the merger, the company expects to dominate the growing online bingo market. Additionally, they will bolster their poker, casino, and sports betting positions.