Bwin and PartyGaming have announced their long-awaited merger to create the largest listed internet gambling company in the world. The talks, which at some point were thought to have been abandoned, finally proved successful resulting in a majority share for Bwin.


Bwin will receive 51.6% of the new company while PartyGaming's share is 48.4%. The combined market cap of the two companies is approximately €2.7 billion. Total revenue in 2009 was €682 million for the two companies and earnings €196 million.

Share prices for both companies jumped up after the news. The upper management of the new company will comprise of executives from both parties, with PartyGaming's Jim Ryan and Bwin's Norbert Teufelgerger sharing the chief executive duties.

The new company will have its' main offices in Gibraltar and it will be listed in the London Stock Exchange. It is expected that the merger process will be finished by the first quarter of 2011.

Source: EGR Magazine.