by Anton Johan
More details emerged last week regarding the upcoming merger between two of the industry's greatest gambling entities, Party Gaming and bwin.
Bwin briefed its shareholders regarding the merger that is expected to take place at the end of the first quarter of 2011.
One of the most significant announcements was that the newly merged group will be known as bwin.party digital entertainment plc.
Both companies will continue to operate their own core brands, but will work under the new name.
The merger will see the creation of the largest publicly listed gambling company in the entire world.
Bwin will retain majority share of the new group, and its shareholders will own 51.6% of the shares. Party Gaming shareholders will win 48.4%.
Bwin shareholders will receive 12.23 new shares for each existing bwin share they own.
Future net revenues for the group are expected to reach almost €700 million, with unaudited profit after tax reaching just under €100 million.
The joint entity will concentrate on entering regulated markets, as well as those in the process of regulating and will prepare to enter the US gambling market when it opens up.
The group would also consider acquiring other companies if the right opportunity came up.
