bwin and PartyGaming confirmed that the merger is on track
The merger is expected to generate synergies totalling 55 million Euros. However, these will not only be cost synergies: on the contrary, the merger will result in synergies of opportunity, marketing and revenue. Headquarters to be established in Gibraltar.
bwin shareholders will receive 51.6 %, and PartyGaming shareholders 48.4 % of the new company. Its headquarters will be established in Gibraltar. bwin's business locations in Vienna and Stockholm are not under discussion. The new company will be listed on the London Stock Exchange, and will probably be included in the FTSE 100 index.
Both bwin and PartyGaming brands will be retained. The new company will be headed by the two Co-CEOs Norbert Teufelberger and Jim Ryan. Norbert Teufelberger was previously Co-CEO with bwin, Jim Ryan CEO with PartyGaming. bwin Co-CEO Manfred will be moving to the Supervisory Board of the new company, and will be responsible for brand integration and strategic sales topics.
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