Is this true? Have read several things on the internet about this.
Here a article
According to various reports, PartyGaming (parent company of Party Poker) and Bwin are currently in merger talks that could create a multi-billion pound "gambling giant".
The two sides have apparently been talking on and off since the summer.
PartyGaming trades on the London Stock Exchange and is valued at around 1 billion pounds, while Bwin trades on the Vienna stock exchange and is valued at around 1.2 billion pounds.
Earlier this year, PartyGaming settled with the US Department of Justice for $105 million dollars. Many people believed that this settlement would lead to increased acquisition activity by PartyGaming, and this certainly appears to be the case.
Neither side has officially acknowledged that talks have taken place. PartyGaming, according to the Sunday Times, is expected to be "asked by the Takeover Panel to clarify the position before the market opens tomorrow morning".
A merger between the two companies, if it were to take place, would create an online gambling giant.
Bwin has one of the largest online sportsbook operations in the world, while PartyGaming has the fourth largest online poker room. PartyGaming wants to expand its sports betting business, while Bwin is eager to increase their online poker numbers. A merger between the two companies would seem to make a great deal of sense.
We'll keep you posted on any developments in this story..
and another one
Online poker giant PartyGaming is thought to be discussing a merger with Austrian rival Bwin in a £2bn deal that would create the world’s largest online gaming group.
PartyGaming, well established in the online poker, is thought to be keen on a deal with Bwin as it looks to make inroads into the sports bookmaking market following its purchase of Gamebookers three years ago. Bwin, currently the main sponsors of Real Madrid, AC Milan and Bayern Munich is thought to be worth around €1.4bn.
From being the world’s biggest poker group in 2005, PartyGaming’s shares have tumbled following the decision in the US to effectively ban online gaming with the introduction of the Unlawful Internet Gambling Enforcement Act in 2006. At that time, around 80% of PartyGaming customers were based in the US.
Talks have reportedly been taking place on an on-off basis since the summer although a deal is not thought to be imminent, with the Takeover Panel likely to ask both companies to clarify their position.
Neither side was willing to discuss the proposed deal, with a PartyGaming spokesperson telling Reuters:"We don't comment on rumour and speculation.”
