Online Casino Transfer: News - Talks End 'tween Bwin and Party

07/16/2010		Online Casino Style: News Talks End 'tween Bwin and Party
Home History Games News Dictionary		While the online gambling group Gala Coral announced this week that they had been able to come to a new ownership agreement to help ease their burden of debt, two other powerful internet casino groups have had not nearly as successful of a time in their negotiations. The popular and influential companies Bwin Interactive and Party Gaming had been in discussions to perhaps merge and join forces to better combat the ever growing field of competition. The firms announced this week that their discussions had ended, with no agreement made. The rest of the online gambling industry, while not privy to the details of the agreement being negotiated behind the closed doors, had nonetheless surmised that a merger was in discussion. Had it been successful it would have joined two of the most powerful groups in the online gambling world. According to a report by the Reuters, such an agreement was not reached, with the pair now withdrawing to pursue other interests. Bwin is listed on the Vienna Stock Exchange, while Party rules the London. The news that the talks had collapsed was confirmed by Bwin’s supervisory board chairman Hannes Androsch, who also happens to single-handedly hold the most in shares for the company. An article in Trend magazine in Austria including a quote with him saying that "It is true, that talks with the English company ultimately did not lead to the desired outcome." The article goes on to say that Bwin has moved on in interests, now looking to find an American partner that could open up to future possibilities in the US internet casino market. One San Francisco company is being considered to take an 11 percent stake. Norbert Teufelberger commented on their intent, saying that “Bwin wants to tackle the task of entering the United States with a competent and local partner. We are holding talks to do this.”

07/16/2010

Online Casino Style: News
Talks End 'tween Bwin and Party

While the online gambling group Gala Coral announced this week that they had been able to come to a new ownership agreement to help ease their burden of debt, two other powerful internet casino groups have had not nearly as successful of a time in their negotiations. The popular and influential companies Bwin Interactive and Party Gaming had been in discussions to perhaps merge and join forces to better combat the ever growing field of competition. The firms announced this week that their discussions had ended, with no agreement made.

The rest of the online gambling industry, while not privy to the details of the agreement being negotiated behind the closed doors, had nonetheless surmised that a merger was in discussion. Had it been successful it would have joined two of the most powerful groups in the online gambling world. According to a report by the Reuters, such an agreement was not reached, with the pair now withdrawing to pursue other interests. Bwin is listed on the Vienna Stock Exchange, while Party rules the London.

The news that the talks had collapsed was confirmed by Bwin’s supervisory board chairman Hannes Androsch, who also happens to single-handedly hold the most in shares for the company. An article in Trend magazine in Austria including a quote with him saying that "It is true, that talks with the English company ultimately did not lead to the desired outcome."

The article goes on to say that Bwin has moved on in interests, now looking to find an American partner that could open up to future possibilities in the US internet casino market. One San Francisco company is being considered to take an 11 percent stake. Norbert Teufelberger commented on their intent, saying that “Bwin wants to tackle the task of entering the United States with a competent and local partner. We are holding talks to do this.”