Online Gambling Giants Party Gaming and Bwin to Merge?
Online casino giants Party Gaming and bwin are currently locked in discussions over signing a massive £2 million merger that could potentially change the face of online gambling as we know it.
Party Gaming had been operating under a cloud in the previous couple of years after being forced to pull out of the US market following the introduction of the UIGEA and had to pay the Department of Justice $105 million for breaching the new laws.
As a result, their share prices dropped dramatically, but now that Party Gaming has reached the multi-million ‘non-prosecution agreement’ with the US government – which will see the company pay-off its fine over a four year period – they are free to enter new partnership deals such as the one with bwin.
Of course, should the merger prove successful, industry experts expect shares in the new super-company to rise dramatically in the coming months, and investors in Party Gaming will no doubt be keeping an eye on developments over the next few days.
The news of the potential merger comes as a welcome fillip to the Party Gaming group, who have worked hard since 2006 to bounce back from their setback in the US, with bwin having recently expanded into Europe to increase their company’s value to £1.2 million. Certainly, if the two betting giants do come to an agreement, they’ll be a force to be reckoned with in the gambling world next year.