Topic: Party Gaming and bwin reveals further merger details

Party Gaming Plc and bwin Interactive Gaming have revealed further details of their proposed merger in the first quarter of 2011.

The new company, to be named bwin.party Digital Entertainment and both Party Poker and bwin will retain their own brands post-consolidtion.

Norbert Teufelberger, Co-CEO of bwin said, “The online gaming industry is going through a phase of consolidation, making market players’ size and geographic diversification more crucial than ever.

“The new company will operate worldwide with its existing brands under the name of bwin.party digital entertainment plc, in which current bwin shareholders are expected to hold 51.7 per cent of the shares and current PartyGaming shareholders 48.3 per cent.

“Our products and target markets complement one another perfectly, and we can continue to expand our technology lead in all key product segments: sports betting, poker, casino, bingo and games.”