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Online Gambling Company Bwin in Negotiations to Buy Gioco Digitale

7/9/2009
Austrian betting and gambling operator Bwin has announced that it is close to sealing a deal to purchase gaming site Gioco Digitale ahead of a potential law reform in Italy.

The move would position Bwin well to move into the Italian gaming market – an industry which the company expects will be deregulated in the coming months – and provide them with a platform from which to expand further into Europe.

Bwin said yesterday that an agreement to buy 100 percent of Gioco from current shareholders was in the final stages of talks, however they did not disclose the particulars of the deal or how much money would be involved in the takeover.

Gambling analysts, meanwhile, say the move is in keeping with the current trend of online companies buying up assets in the fragmented European internet gambling market, which they believe is ripe for consolidation at present.

Should they successfully acquire Gioco, Bwin will be following in the footsteps of Britain’s PartyGaming and 888.com, who are also reportedly close to sealing a deal for an unidentified European asset. Following their announcement, shares in Bwin rose 0.7 percent to 27.42 euros in the first few minutes of trading.
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