Deals
PartyGaming to Control Bwin in $1.76 Billion Deal
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PartyGaming Plc plans to acquire Bwin Interactive Entertainment AG in a reverse takeover valued at about 1.13 billion pounds ($1.76 billion) to create the world’s biggest publicly traded online gambling company.
The merged company, which had reported net gaming sales of 682 million euros, will be 51.6 percent owned by Vienna- based Bwin, with PartyGaming of Gibraltar holding the rest, the companies said in a statement today. The new company would be listed in London and have leading positions in online poker, sports betting, casino and games such as bingo, they said.