Aiming to calm speculations regarding their planned merger, Bwin Interactive Entertainment AG and PartyGaming have issued a joint statement confirming that merger plans between the two gaming giants are "on track".
The two companies released the statement following market speculation on the slow speed of the merger that might be sending jitters to shareholders. Both Austrian-based Bwin and Gibraltar-licensed PartyGaming mentioned that they expect the merger to be completed by Q1 of 2011.
Bwin and PartyGaming first announced the merger at the end of July and in the process create the world's largest listed online gambling company.
The merger will see Bwin assets and liabilites transferred to PartyGaming thereby creating a European joint stock company that will be incorportated in Gibraltar. PartyGaming CEO Jim Ryan and Bwin Co-CEO Norbert Teufelberger will work hand-in-hand as Co-CEOs in the merged entity.
Source: I-Gaming Business
Date Posted: November 11, 2010
