Bwin.party Online Gambling Diversifies

Published Saturday, January 03, 2015 - Online-Casinos.com
Bwin.party Online Gambling Diversifies

Bwin.party Digital Entertainment has its fingers in a few pies as the company continues to find ways of restructuring while still making a profit. Formed by the 2011 merger of PartyGaming plc and Bwin Interactive Entertainment AG it became the world's largest publicly traded online gambling company. Known for its online poker room PartyPoker and its sports betting brand Bwin this Gibraltar based firm has been eclipsed by Amaya’s  PokerStars and Full Tilt online poker rooms.

Changing with the times bwin.party’s diversification is evident in some of the latest deals it has been part of in the last year or so. The company announced back in September of 2014 that Kalixa, the payments service provider wholly owned by bwin.party digital entertainment plc established  a 50:50 joint venture with Millicom, a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa. Now in January if 2015 we are hearing that bwin.party says it is close to a deal to sell its social gaming sector while staying in negotiations over a possible merger with parties as yet undisclosed.

Bwin.party announced the sale possibilities after it revealed that losses on Win, its social gaming sector, would be about €7m (US$8.5m) for the year. bwin.party commented, “We are in active discussions regarding the sale of Win, the group’s social gaming business and expect to make a further announcement shortly,” a spokesperson added, “The group is continuing its discussions with several parties regarding a variety of potential business combinations with a view to creating additional value for bwin.party.”

Philip Yea, who is the recently appointed chairman of the board for bwin.party Digital Entertainment responded to the situation,   “The company is fully engaged on delivering further value for shareholders and I am confident that our efforts are supported by our major institutional shareholders.”

 

 

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