Oct
2nd

Italian Online Gambling Giant Sold to Bwin

The trend in Europe in the online gambling industry at the moment is that the bigger companies are in the process of buying quite a few of the smaller companies.

In response to PartyGaming’s purchase of two renowned operators in the World Poker Tour and Cashcade, Bwin has revealed that they have agreed to buy the first independant Italian online poker giant Gioco Digitale. Between the cash it will pay and the shares it will buy the purchase will cost Bwin 115 million euros.

They were expected to buy fifty-six percent of Gioco Digitale shares at the closing price from last Friday and the balance of the purchase to be paid for in cash.

An observer, Vinnie Brandile, reported that the European companies realize that now is the right time to buy up the smaller companies and that the bigger companies are gearing themselves up for the near future.

Bwin Interactive Entertainment is an Australian company that provides poker, casino games, sports betting, soft and skill games as well as video and audio streams of popular sporting events in over twenty five markets offered in twenty two languages under regional and international licenses. They provide services via the Internet and mobile phones. Its revenue is derived mainly from sports betting and poker on its main websites bwin.com and pokeroom.com. It processes more than 30,000 bets each day.

Gioco Digitale is known to be a casino and poker room using CyberArts software which is licensed in Italy with its primary language being Italian.

Related Posts

Tags: , , , ,

Leave a Reply