Bwin Confirms Italian Gaming Site Acquisition
September 16, 2009 (CAP Newswire) — Austrian-based online betting company bwin Interactive Entertainment AG has confirmed that it will acquire Italian Internet gaming firm Gioco Digitale, which has been the subject of industry speculation for weeks.
The €50 Million cash (and 2.3 million share) acquisition will empower bwin to become “the leader in continental europe's largest online gaming market”, the company stated in a news release.
Describing the Italian poker market as “booming”, bwin went on to state that the transaction “will position bwin as Italy's leading online gaming operator, its firm number one position in online poker and lotteries complementing its top position in sports betting.”
Bwin will also enlist the current Gioco Digitale Management Team to help develop poker and other online gambling products that are “due for regulation” in regional European markets.