On the 29th of July, 2010, the gambling industry received some shocking news. In a joint announcement by PartyGaming (LON:PRTY) and Bwin (WBAG:BWIN) spokespeople, the companies explained that as of the 28th of January, 2011, the two companies would merge. Of course the stockholders’ votes still have value, and the merger technically cannot go through if a majority vote is not reached. However, stockholders can easily see the potential for growth when two industry giants team up and stop working against each other, so it would be surprising if the merger was declined by the stockholders.
The details of the agreement, along with a detailed description of how the company would run once merged, were all lined out in a 478-page document, which is available to the public. The prospectus explains that the companies would still use their established brands and logos, but they would operate under the bwin.party Digital Entertainment plc holding company. The new massive company would be headquartered in Gibraltar, and listed on the London Stock Exchange. Analysts expect current Bwin shareholders to retain about 51.6% of shares in the new company, while current PartyGaming owners would keep the remaining 48.4%.
According to the company prospectus, the merger would create “a business with unaudited net revenues of €696.2m, unaudited clean EBITDA of €193.7m, unaudited profit after tax of €99.4m and unaudited net assets of €1.27bn”. If the merger goes through, both companies have huge plans for the future. The prospectus explains that, once merged, bwin.party Digital Entertainment would aggressively seek out new, regulated markets, while establishing regulation in areas like the United States. It also explains that lots of funds will go into research and development, especially in the social gaming sphere. The company also intends to team up with leading sporting organizations, as well as seek out smaller companies to buy out. Suffice it to say, if the two companies are merged, we will see some BIG changes in the next few years.
On the 29th of July, 2010, the gambling industry received some shocking news. In a joint announcement by PartyGaming and Bwin spokespeople, the companies explained that as of the 28th of January, 2011, the two companies would merge. Of course the stockholders’ votes still have value, and the merger technically cannot go through if a majority vote is not reached. However, stockholders can easily see the potential for growth when two industry giants team up and stop working against each other, so it would be surprising if the merger was declined by the stockholders.
The details of the agreement, along with a detailed description of how the company would run once merged, were all lined out in a 478-page document, which is available to the public. The prospectus explains that the companies would still use their established brands and logos, but they would operate under the bwin.party Digital Entertainment plc holding company. The new massive company would be headquartered in Gibraltar, and listed on the London Stock Exchange. Analysts expect current Bwin shareholders to retain about 51.6% of shares in the new company, while current PartyGaming owners would keep the remaining 48.4%.
According to the company prospectus, the merger would create “a business with unaudited net revenues of €696.2m, unaudited clean EBITDA of €193.7m, unaudited profit after tax of €99.4m and unaudited net assets of €1.27bn”. If the merger goes through, both companies have huge plans for the future. The prospectus explains that, once merged, bwin.party Digital Entertainment would aggressively seek out new, regulated markets, while establishing regulation in areas like the United States. It also explains that lots of funds will go into research and development, especially in the social gaming sphere. The company also intends to team up with leading sporting organizations, as well as seek out smaller companies to buy out. Suffice it to say, if the two companies are merged, we will see some BIG changes in the next few years.
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