New Name for Merged PartyGaming and Bwin
The new company to be formed by the merger of bwin and PartyGaming now has a name: Introducing bwin.party digital entertainment, soon to be “the world’s largest publicly listed online gaming group.”
The new company will make PartyGaming’s current Gibraltar headquarters its home. And it will be very much a global company, “ideally positioned to take advantage of the rapid consolidation of the online gaming industry and to open up new markets around the world,” per bwin’s news release.
And a key part of that global strategy “is to enter the US market,” notes the International Business Times.
The business nuts and bolts: The merger still awaits final approval via a vote from shareholders. The new company also aims to expand its B2B offerings, and will be listed on the London Stock Exchange.
Bwin.party will be born “with unaudited net revenues of €696.2m,” explains EGR, and with “annual synergies … expected to total about EUR 55 million,” adds StockMarketsReview.com. “It is anticipated that about three quarters of this amount will be achieved in the financial year 2012, with full synergies from 2013.”
No word yet on how the merger will affect casino affiliates, but you can check out bwin’s official merger plan update here for info on how the shareholder and financial situation shakes down.