Online Casino Transfer: News - Stock Soars Following Merge Rumor

02/04/2010		Online Casino Style: News Stock Soars Following Merge Rumor
Home History Games News Dictionary		The stock markets around the world have been anything but reliable the last two years, though one must admit that the oscillating action of the numbers so provide a sick sort of entertainment. Some more, um, entertainment was noted this week in relation to the online gambling company Party Gaming’s stock, which jumped a surprising 11 percent in reaction to a merger rumor spread about the internet casino community. The rumor – that Party Gaming was on the move to merge with fellow online gambling giant Bwin – has some foundation, but nonetheless is being entirely credited for the increase in prices, setting an eight month high for the firm. According to Party Gaming, they are indeed considering a merger, though clarified that the consideration was in discussion with a number of companies and had not yet narrowed the field to one particular partner. A statement released by the firm said that ‘potential consolidation opportunities’ were indeed being talked about, but that all the discussions were in such early stages that they could not confirm or deny that the negotiations will end in any form of agreement with any party. One of the online gambling forums perpetuating the spread of the Bwin rumor has since been identified as the Austrian magazine Format, which contained an illusionary quote from Bwin Chairman Hannes Androsch about the “talks,” though even Androsch said there was no definition to the discussions yet. Estimates are already flying as to the financial consequences of such a merge, with some press reports valuing such a union to be worth as much as $4 billion. Meanwhile, Bwin, which holds the largest market share in Europe, leading revenue values by 8 percent ahead of the competition, also confirmed that it was in negotiations, again with more than one potential lead: ““We are in talks with a lot of competitors. Some of these talks are successful - such as those with Italy’s Gioco Digitale - some end without any result,” said the head of investor relations for the online gambling giant, Konrad Sveceny.

02/04/2010

Online Casino Style: News
Stock Soars Following Merge Rumor

The stock markets around the world have been anything but reliable the last two years, though one must admit that the oscillating action of the numbers so provide a sick sort of entertainment. Some more, um, entertainment was noted this week in relation to the online gambling company Party Gaming’s stock, which jumped a surprising 11 percent in reaction to a merger rumor spread about the internet casino community. The rumor – that Party Gaming was on the move to merge with fellow online gambling giant Bwin – has some foundation, but nonetheless is being entirely credited for the increase in prices, setting an eight month high for the firm.

According to Party Gaming, they are indeed considering a merger, though clarified that the consideration was in discussion with a number of companies and had not yet narrowed the field to one particular partner. A statement released by the firm said that ‘potential consolidation opportunities’ were indeed being talked about, but that all the discussions were in such early stages that they could not confirm or deny that the negotiations will end in any form of agreement with any party.

One of the online gambling forums perpetuating the spread of the Bwin rumor has since been identified as the Austrian magazine Format, which contained an illusionary quote from Bwin Chairman Hannes Androsch about the “talks,” though even Androsch said there was no definition to the discussions yet. Estimates are already flying as to the financial consequences of such a merge, with some press reports valuing such a union to be worth as much as $4 billion.

Meanwhile, Bwin, which holds the largest market share in Europe, leading revenue values by 8 percent ahead of the competition, also confirmed that it was in negotiations, again with more than one potential lead: ““We are in talks with a lot of competitors. Some of these talks are successful - such as those with Italy’s Gioco Digitale - some end without any result,” said the head of investor relations for the online gambling giant, Konrad Sveceny.