Austrian online betting company bwin announced Thursday it had signed a merger agreement with British rival PartyGaming.
The move, giving bwin a 51.6-percent stake in the new group compared to 48.4 percent for PartyGaming, will become effective in the first quarter of 2011, the Austria Press Agency reported.
"This business combination makes great strategic, operational and financial sense," bwin chief executive Norbert Teufelberger said in a statement.
"We will be in pole position to capitalise on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry," he added.
PartyGaming chief executive Jim Ryan echoed that sentiment, saying: "The enlarged group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cashflow generation and a highly experienced management team."
The two men will become co-chief executives of the new company, which will have its seat in Gibraltar and be listed on the London Stock Exchange.
Meanwhile, bwin will be delisted from the Vienna Stock Exchange.
The new group will be the largest listed online gaming company.
In late trade Thursday, bwin shares were up 20.35 percent to 42.88 euros in Vienna and PartyGaming gained 19.49 percent to 307.1 pounds in London. (Credit: Fairfax Media)
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Saturday, July 31, 2010
Thursday, July 29, 2010
PartyGaming News: Proposed Merger of PartyGaming Plc (‘PartyGaming’) and bwin Interactive Entertainment AG (‘bwin’)
PartyGaming News: Proposed Merger of PartyGaming Plc (‘PartyGaming’) and bwin Interactive Entertainment AG (‘bwin’)
Highlights
Creation of the world’s largest listed online gaming business
Market leading positions in all key verticals of online poker, sports betting, casino and games (in particular bingo)
Pro forma 2009 net gaming revenue of €682 million and EBITDA of €196 million, before synergies
Estimated annualised synergies of approximately €55 million
Proposed Merger is expected to be significantly earnings enhancing for both companies pre-amortisation
Enlarged Group to be owned approximately 48.36 per cent. and 51.64 per cent. by PartyGaming and bwin shareholders respectively and will be listed on the London Stock Exchange
Jim Ryan and Norbert Teufelberger to be Co-Chief Executive Officers of the Enlarged Group
Irrevocable undertakings in support of the Proposed Merger have been received from shareholders currently holding 28.5 per cent. and 14.4 per cent. of PartyGaming and bwin’s existing issued share capital respectively
Commenting on the Proposed Merger, Jim Ryan, Chief Executive Officer of PartyGaming said:
"This is a transformational opportunity for both our companies to create the world’s largest listed online gaming business. With market-leading positions in poker, sports betting, casino and games (in particular bingo), the Enlarged Group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cashflow generation and a highly experienced management team."
Commenting on the Proposed Merger, Norbert Teufelberger, Co-Chief Executive Officer of bwin said:
"This merger of equals makes great strategic, operational and financial sense. We will be in pole position to capitalise on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry."
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Highlights
Creation of the world’s largest listed online gaming business
Market leading positions in all key verticals of online poker, sports betting, casino and games (in particular bingo)
Pro forma 2009 net gaming revenue of €682 million and EBITDA of €196 million, before synergies
Estimated annualised synergies of approximately €55 million
Proposed Merger is expected to be significantly earnings enhancing for both companies pre-amortisation
Enlarged Group to be owned approximately 48.36 per cent. and 51.64 per cent. by PartyGaming and bwin shareholders respectively and will be listed on the London Stock Exchange
Jim Ryan and Norbert Teufelberger to be Co-Chief Executive Officers of the Enlarged Group
Irrevocable undertakings in support of the Proposed Merger have been received from shareholders currently holding 28.5 per cent. and 14.4 per cent. of PartyGaming and bwin’s existing issued share capital respectively
Commenting on the Proposed Merger, Jim Ryan, Chief Executive Officer of PartyGaming said:
"This is a transformational opportunity for both our companies to create the world’s largest listed online gaming business. With market-leading positions in poker, sports betting, casino and games (in particular bingo), the Enlarged Group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cashflow generation and a highly experienced management team."
Commenting on the Proposed Merger, Norbert Teufelberger, Co-Chief Executive Officer of bwin said:
"This merger of equals makes great strategic, operational and financial sense. We will be in pole position to capitalise on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry."
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Wednesday, July 28, 2010
Friday, July 09, 2010
PartyGaming Group Awarded Second eCOGRA Affiliate Trust Seal
PartyGaming Group Awarded Second eCOGRA Affiliate Trust Seal
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AffClub Affiliate Program passes tough affiliate administration tests
London, 7 July 2010 - Following the approval of PartyPartners.com in January this year, a second affiliate marketing administration program in the PartyGaming group of online gambling companies has successfully passed the on-site inspection and monitoring requirements of player protection and standards body eCOGRA.
AffClub handles affiliate marketer relationships and administration for PartyGaming Plc subsidiary iGlobalMedia Entertainment Limited, which operates the websites acquired from IOG Casinos and the Tradal Group in 2007.
Nine well-established, tier one internet casino brands and one successful online poker room comprise the AffClub business portfolio.
"In keeping with the various other PartyGaming operations that eCOGRA reviews, AffClub operates in a highly professional manner and its focus on meeting the needs of affiliates within given control frameworks provides for a reliable and effective platform for affiliates and regulators alike," reports eCOGRA Compliance Manager Sean Roberts who conducted an extensive inspection and assessment of AffClub’s operations before the eCOGRA Affiliate Trust Seal was approved by the standards body.
Having successfully met the eCOGRA affiliate program standards, AffClub is now entitled to display the eCOGRA Affiliate Trust Seal, which certifies that the company observes best practice operational standards of fairness and efficiency in dealing with affiliate marketers, and is independently reviewed on a regular basis.
eCOGRA chief executive Andrew Beveridge said that among the criteria for accreditation, applicant programs for the seal must show that affiliate revenue is calculated fairly and accurately, that payments are prompt, and that there are appropriate controls in place to accurately link players to affiliates.
"Achieving accreditation such as AffClub has done requires high levels of commitment and sound administrative and business systems," he said.
Notes for editors:
About eCOGRA’s Affiliate Trust Seal:
eCOGRA is an independent, non-profit London-based standards organisation that sets online gambling standards and provides an international framework for best operational and player protection requirements, with particular emphasis on fair and responsible gambling.
Best practice standards relevant to affiliate programs have been established through an extensive international research and consultation program, targeting key areas of affiliate program activity to ensure that:
Affiliate revenue is calculated accurately and deductions are correctly allocated
Payments are completely and accurately processed
Preventative and detective controls are in place to ensure accurate and correct linking of players to affiliates
Program software applications are developed, implemented, maintained and secured in a manner representative of best practice international standards
Affiliate programs must be able to demonstrate that they can recover from a system disaster
About AffClub:
AffClub’s portfolio of brands include:
Casino Swiss
Noble Casino
Casino Las Vegas
Casino King
EnterCasino
ClubDice Casino
MagicBox Casino
Carnival Casino
50Stars Casino
Noble Poker
AffClub is a collaboration of the industry's oldest and most respected marketing businesses. With many years of experience, iGlobalMedia Entertainment has provided affiliates with professional management and extensive assistance, motivating affiliates to achieve excellent results and earnings.
London-listed PartyGaming plc purchased IOG Casinos and Tradal Group in January 2007, creating AffClub as the affiliate program for nine well-established online casino brands and a thriving online poker room.
PartyGaming's principle brands include PartyPoker.com, PartyCasino.com and World Poker Tour
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AffClub Affiliate Program passes tough affiliate administration tests
London, 7 July 2010 - Following the approval of PartyPartners.com in January this year, a second affiliate marketing administration program in the PartyGaming group of online gambling companies has successfully passed the on-site inspection and monitoring requirements of player protection and standards body eCOGRA.
AffClub handles affiliate marketer relationships and administration for PartyGaming Plc subsidiary iGlobalMedia Entertainment Limited, which operates the websites acquired from IOG Casinos and the Tradal Group in 2007.
Nine well-established, tier one internet casino brands and one successful online poker room comprise the AffClub business portfolio.
"In keeping with the various other PartyGaming operations that eCOGRA reviews, AffClub operates in a highly professional manner and its focus on meeting the needs of affiliates within given control frameworks provides for a reliable and effective platform for affiliates and regulators alike," reports eCOGRA Compliance Manager Sean Roberts who conducted an extensive inspection and assessment of AffClub’s operations before the eCOGRA Affiliate Trust Seal was approved by the standards body.
Having successfully met the eCOGRA affiliate program standards, AffClub is now entitled to display the eCOGRA Affiliate Trust Seal, which certifies that the company observes best practice operational standards of fairness and efficiency in dealing with affiliate marketers, and is independently reviewed on a regular basis.
eCOGRA chief executive Andrew Beveridge said that among the criteria for accreditation, applicant programs for the seal must show that affiliate revenue is calculated fairly and accurately, that payments are prompt, and that there are appropriate controls in place to accurately link players to affiliates.
"Achieving accreditation such as AffClub has done requires high levels of commitment and sound administrative and business systems," he said.
Notes for editors:
About eCOGRA’s Affiliate Trust Seal:
eCOGRA is an independent, non-profit London-based standards organisation that sets online gambling standards and provides an international framework for best operational and player protection requirements, with particular emphasis on fair and responsible gambling.
Best practice standards relevant to affiliate programs have been established through an extensive international research and consultation program, targeting key areas of affiliate program activity to ensure that:
Affiliate revenue is calculated accurately and deductions are correctly allocated
Payments are completely and accurately processed
Preventative and detective controls are in place to ensure accurate and correct linking of players to affiliates
Program software applications are developed, implemented, maintained and secured in a manner representative of best practice international standards
Affiliate programs must be able to demonstrate that they can recover from a system disaster
About AffClub:
AffClub’s portfolio of brands include:
Casino Swiss
Noble Casino
Casino Las Vegas
Casino King
EnterCasino
ClubDice Casino
MagicBox Casino
Carnival Casino
50Stars Casino
Noble Poker
AffClub is a collaboration of the industry's oldest and most respected marketing businesses. With many years of experience, iGlobalMedia Entertainment has provided affiliates with professional management and extensive assistance, motivating affiliates to achieve excellent results and earnings.
London-listed PartyGaming plc purchased IOG Casinos and Tradal Group in January 2007, creating AffClub as the affiliate program for nine well-established online casino brands and a thriving online poker room.
PartyGaming's principle brands include PartyPoker.com, PartyCasino.com and World Poker Tour
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Friday, July 02, 2010
PartyPoker Sponsors TV show
PartyPoker Sponsors TV show
GIBRALTAR - (PRESS RELEASE) - 28th June 2010 - PartyPoker is proud to sponsor the new season of 'The Poker Show with Jesse May,' with the first one hour show being broadcast on Wednesday 30th June and available to download from 12pm. The Matchroom Sport produced show is available to download on the PartyPoker.com blog and through ITunes every Wednesday and Sunday throughout July. To mark the new sponsorship the guests for the opening show will be Team PartyPoker.com's Mike Sexton, Tony G and Kara Scott.
After each of the first eight scheduled shows there will be an exclusive $5+1 tournament on PartyPoker.com every Thursday and Monday (under the specials tab). Winners of each of the eight tournaments go into a final freeroll on Sunday 1st August where the winner will get a seat for the televised Main Event of the WPT London Poker Classic, which runs from 30th August – 4th September (value of £5,000). The tournaments are password protected and the passwords will be available through listening to the show and joining the mailing list. There are also exclusive great value bonuses for new and existing PartyPoker.com customers available through the show.
Jesse May said: "I'm very excited about the new format. The last three seasons have been trial and error but I think we have cracked the formula. The key words are big names and fast paced – the strength of the show has always been all the great contacts we have in the poker world but now we think we are coming to something that the listeners will love hearing rather than just the people we interview."
Shortly after the opening show Jesse flies out to Las Vegas to join the thick of the action at the WSOP and the second instalment of the series will be online on Sunday 4th July. Further shows with exclusive content from Vegas will be available on the 7th, 11th, 14th, 18th, 21st and 25th July before the show takes a brief break for Jesse to get his breath back. The show returns on Sunday August 29 to build up to the WPT and WSOPE coming to London. The one hour episodes then continue to be posted online every Wednesday and Sunday until the final show of the series on Wednesday September 29.
The Poker Show with Jesse May has run for three series - beginning in April 2009 and finishing in May this year.
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