Bwin to sell online social gaming business
The online gaming firm entered the social gaming business with a USD 50 M investment to launch WIN, yet has struggled to make any significant in-roads into the industry that boomed in 2011 yet now only sees a handful of companies which are successful.
“We are in active discussions regarding the sale of Win, the group’s social gaming business and expect to make a further announcement shortly,” the company said today in a statement to Bloomberg. “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.”
It was hoped that the US online gambling market would expand more than it has to date, allowing for social gaming to help with the companies difficulties in New Jersey where they continue to lose money with a limited player pool.
However with no boom and the market expansion which would follow in the US looking likely until 2016 (at the earliest), the online gambling firm has decided enough is enough and is to leave the social gaming business.
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