The collaboration between Austria based Bwin and UK based Party Gaming, two of the biggest online gambling entities was finally concluded this Thursday. The new entity formed by both the gambling companies is called Bwin.party, a digital entertainment company, which began trading this Thursday with a commencing share price of £1.94. The London Stock exchange ticker for this new entity is ‘BPTY’.
The initiative was planned last July and the shareholders were each given a detailed document describing the framework of the collaboration. The merger was voted for by the shareholders during an EGM (extraordinary general meeting) in January and all the Bwin shareholders collectively agreed to all the five resolutions. Altogether, a number of 335 shareholders game came to the EGM, demonstrating a total of 18.1 million shares.
The prevailing Bwin shareholders obtained 12.23 Bwin.party depositary interests for every Bwin share, offering them roughly 52% of the total lot of members as on the first of April. The conversion proportion of 12.23 Bwin.party depositary interests for every Bwin share will have an outcome called ‘fractional entitlements’, which are nothing but rights to portions of Bwin.party interests which cannot be traded in the London Stock Exchange.
Jim Ryan and Norbert Teufelberge will act as the newly appointed co-CEOs of the new digital entertainment company. Both the parties said that “We are delighted that our merger is now complete so that we can start with the integration of our businesses and capturing the synergies we have already identified. As we make the transition from unregulated to regulated markets, we have an excellent opportunity to capitalize on our market-leading positions in sports betting, poker, casino, and games as well as bingo.”
The collaboration has brought about several other modifications in the management. Simon Duffy has become the Non-Executive Chairman of the Board. Bwin’s ex COO, Joachim Baca will reappear with the same role in Bwin.party and Party Gaming’s Finance Director, Martin Weigold will take over the role of CFO in the new entity.
“Congratulations to Bwin.party’s directors and employees on managing the merger through to completion. This is a landmark day for the online gaming sector and Bwin.party is now in a position to leverage its combined resources to take maximum advantage of regulating markets and the exciting opportunities in the real money gaming and digital entertainment sectors.”, stated, Duffy.
The merger has begun with a vision to be one of the best in the online poker industry and to penetrate into the American market.

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