PartyGaming's shareholders will get 48.4 percent of the new company, with 51.6 percent going to bwin's shareholders.įirst, however, 75 percent of the shareholders must agree to the merger during a shareholders meeting in the first quarter of 2011.
The deal, valued at $1.76 billion, brings together two already substantial publicly traded companies. If approved by the companies' shareholders, the combined entity will be the world's largest publicly traded online gaming company. The talk of the industry this week is the massive merger between PartyGaming PLC and bwin Interactive Entertainment AG. PartyGaming and bwin Merger Shakes Up Online Gaming World And in other news, the Stations Casino legal saga may be close to an end now that the company has announced a settlement with some angry creditors holding $2.8 billion in unsecured debt. CEO Steven Jacobs was fired and replaced by Wing Chao, conveniently in the same week the Sands announced improved second-quarter numbers on the strength of its Asian operations, directed by the just-fired Jacobs. The brick-and-mortar industry is all atwitter about a major shakeup in the leadership of Sands China.
The online gaming industry is buzzing this week with news of the $1.76 billion merger between Euro giants PartyGaming and bwin.
