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1. Bwin Party Merger News
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Bwin.party Company Profile - Bwin.Party Digital Entertainment is an online gambling company, formed by the March 2011 merger of PartyGaming plc and Bwin Interactive Entertainment AG. Recent assignments include the IPOs of Refresco Gerber, Gym Group and Forterra, as well as follow-on offerings in Wizz Air, Bwin.Party amongst others. Prior to co-founding STJ Advisors, Simon co-founded a $200m event driven hedge fund, where he ran the merger and risk arbitrage portfolios.

Bwin is big time sports, real action and more. Τhe company does not just talk about fun and excitement, it actually make it happen. What’s more: you create the excitement with Bwin. No matter whether you’re a pro or beginner – everyone can join in.

We are the world number one in online gaming. How about some numbers? We offer up to 30,000 bets daily with betting action in more than 90 sports – that’s a record, too.

Enjoy gripping entertainment online: thrilling sports bets with a unique live feeling – get closer to the action than ever before. And then there’s the casino atmosphere at its finest; live poker and numerous games for that short break in-between. Join bwin to get away from your daily routine and enter a world full of emotions.

History and company details

Bwin – was founded in the year 1999 under the name of Simon Bold (Gibraltar) Ltd. –The company was taken over in its entirety in 2001 by the Vienna-based, publicly listed company bwin Interactive Entertainment AG. Following the merger with PartyGaming Plc in March 2011, the company is now part of the bwin.party group. The ultimate group parent company is bwin.party digital entertainment plc, a company registered in Gibraltar and listed on the London stock exchange.

ElectraWorks Limited runs the operational activities on bwin.com from Gibraltar on the basis of sports betting and casino licences issued by the Government of Gibraltar. With a team of over a hundred staff, the company takes care of the bookmaking business, risk management and customer support for bwin.com and other group platforms.

bwin is headed by an experienced and well-versed management team. The team members have extensive professional experience of the gaming industry, making it possible to expand the team rapidly in line with the Group’s dynamic growth.

Sponsoring

Bwin has been main sponsor of the Spanish record-breakers since 2007. Since 2013, Bwin has been the Official Online Gaming and Betting Partner of Real Madrid.

The long-term shirt sponsorship of Real Madrid has been fundamental in establishing bwin as Europe’s leading online gaming brand and has been one of the most-successful partnerships in football, helping Real Madrid to deliver two La Liga titles, two Spanish Super Cups and the Copa del Rey.

As Official Online Gaming and Betting Partner, we have exclusive advertising rights on the club’s online platforms. We are also able to offer our users a unique experience together with the Spanish stars. Whether it is a visit to the bwin box, a tour at the stadium or a Meet and Greet with the stars – bwin makes it possible!

Real Madrid won the Spanish league title in the season 2011/12, for the 32nd time in the club’s history.The Madrilenes celebrated their first major success in 1905, only three years after the club’s founding, when they took the Copa del Rey. Since then, the Spanish Cup has gone their way a further 18 times.

At European level, the players of the Madrid Club de Fútbol, which was granted the title “Real”, meaning royal, in 1920, have been fighting at the top since the mid-1950s and have taken ten triumphs in the European Champions Cup and Champions League, two UEFA Cup victories and four wins in the Club World Cup. This makes Real Madrid the best club of the 20th century.

Over the past 100 years, numerous icons of world football have donned the legendary white jerseys, which earned the club the nickname “white ballet” in the 1950s. The most famous among them include Alfredo di Stefano, Ferenc Puskás, Günter Netzer, Paul Breitner, Jose Antonio Camacho, Manuel Sanchis Jr., Michel, Bernd Schuster, Emilio Butragueño, Luis Figo, Raúl (most games played for the club), Roberto Carlos, Zinédine Zidane, David Beckham and Cristiano Ronaldo.

In the current season, Real Madrid is aiming to renew success in the Primera Division and Copa del Rey as well as their eleventh Champions League title.

Coordinates: 36°08′33″N5°21′31″W / 36.142633°N 5.358695°W

bwin.party Digital Entertainment was an online gambling company, formed by the March 2011 merger of PartyGaming plc and bwin Interactive Entertainment AG. Formerly the world's largest publicly traded online gambling firm,^[2] it was best known for its online poker room PartyPoker, World Poker Tour and its sports betting brand bwin (officially styled bwin).

The company was headquartered in Gibraltar and quoted on the London Stock Exchange. PartyGaming Plc was founded in 1997 with the launch of Starluck Casino. Prior to passage of the Unlawful Internet Gambling Enforcement Act of 2006 by the U.S. Congress, the firm was the world's largest online poker brand, based on cash game revenue and number of players. Its market share has fallen since then, but it remains the third largest online poker room in the world, behind PokerStars and Full Tilt Poker.^[3]

The new company became the world's largest publicly traded online gaming firm in 2010, 48.4% owned by existing PartyGaming shareholders and 51.6% by bwin shareholders. The merged company was listed on the London Stock Exchange, with joint CEOs Norbert Teufelberger and Jim Ryan.^[4]

Following a protracted bidding process between 888 Holdings and GVC Holdings, Bwin.Party confirmed on 4 September 2015 that it had accepted GVC's bid for £1.1 billion. The transaction was completed on 1 February 2016.

History[edit]

Party Gaming and Bwin merged on 31 March 2011. The rumors of a planned Bwin and Party merger began in November 2009, but were not confirmed until a joint statement was issued 26 August 2010.^[4] In December 2010 shareholders were sent a 478-page document with details and an outline of planned merger. On 28 Jan 2011 the merger was approved by shareholders and then completed on 31 March 2011.

In October 2012, bwin announced the sale of its leading online poker network, Ongame, to Amaya Gaming Group in a deal worth up to €25 million.^[5]

In November 2013 it was announced that bwin.party had applied for an online gaming licence for the state of New Jersey in July, and on 8 November had been awarded a transactional waiver by the New Jersey Division of Gaming Enforcement allowing it to participate in the online gaming market in the state, prior to a full licence being granted. The group launched both poker and casino games under the land-based casino licence of its New Jersey partner, Borgata Casino, the launch included both Borgata's and its own brands, including partypoker.com.^[6] By the end of December, the new partypoker site had acquired 50% of the cash game traffic in New Jersey.^[7]

Following a protracted bidding process between 888 Holdings and GVC Holdings, Bwin.Party confirmed on 4 September 2015 that it had accepted GVC's bid for £1.1 billion.^[8] The transaction was completed on 1 February 2016,^[9] as indicated by cancellation of LSE traded shares on 2 February 2016.^[10]

Products and services[edit]

Sports betting[edit]

Sports bets were the core business at bwin, with a sports betting lineup including more than 90 different sports; the principal customer interest is soccer. In order to boost bwin's presence in the UK football betting market, the company launched bwinbetting.com in 2011. Other sports included all popular ball-related sports, US sports as well as all major winter sports and motorsports ranging from Formula 1 to MotoGP. 'Exotic' sports such as roller hockey, futsal and darts were also included in the daily lineup. Customers could also find odds on a range of events outside of sports. These included bets on politics and entertainment such as the Oscars, talent shows, the Eurovision Song Contest and 'Miss' events.^[11]

Poker[edit]

The following types of games were offered at bwin Poker: Texas Hold'em, Omaha, Omaha Hi/Lo, Seven Card Stud, Seven Card Stud Hi/Lo and Five-card draw, plus house variations like Double (three hole cards, choose two, halfway between Hold'em and Omaha). In terms of stakes, users could choose between Fixed Limit, Pot Limit or No Limit tables. A 'play money' version of the games was also available for users to try out for free. bwin offered poker tournaments, both Sit & Go and scheduled, and cash games (ring games). Sit & Go tournaments began as soon as the table was completely occupied. Scheduled tournaments began at a specified time and allowed for higher numbers of participants and the highest prize pools. In cash games the players could join and leave whenever they wanted. bwin Poker could be played using the Mac OS X Poker Client, the Windows Poker Client, the Java Poker Client or the Poker app for Android or the iPhone. The Mac and Windows version offered an extensive selection of features such as statistics and a mini-table function. The Java client was platform-independent as it was a browser-based solution. In January 2011, bwin launched a dedicated Poker app for the iPhone to allow real money poker. This was followed in July 2011 by a similar application for Android-based devices. The mobile client allowed customers to play cash games on their mobile phones. Both apps were restricted to limited territories as permitted by local laws.^[12]

PokerRoom.com[edit]

PokerRoom.com was an online poker cardroom founded in 1999. Licensed by the Kahnawake Gaming Commission, PokerRoom offered both play and real money formats. Tournaments and ring games were available in both web-browser and download client platforms, with support for both Macintosh and Linux. PokerRoom was one of the first online poker sites to provide multi-language support, and catered to Danish, German, Spanish, French, Italian, Russian, and Swedish speakers. These languages were accessed via 'regional sites', many of them showing local sponsoring for the selected region. After 10 years of operation, bwin announced the closure of PokerRoom.com on 14 April 2009.^[13] It was relaunched in 2012 but shut down again on 19 February 2013.^[14]

Bingo[edit]

Following the acquisition of Cashcade in 2009, bwin.party took control of a B2C portfolio of online bingo brands including Foxy Bingo, PartyBingo and Cheeky Bingo. Cashcade was the first company to promote online bingo to a mass market via television advertising and was first to develop the 'free bingo' concept to attract new customers. Bwin began offering bingo at the end of December 2009 when its Italian subsidiary, Gioco Digitale, launched bingo as the first authorised Italian private online gaming operator.^[15]

Bwin Party Merger News

Casino games[edit]

bwin offered more than 100 games, ranging from classics such as roulette or blackjack to slot machines and casino tournaments. The casino has a longstanding tradition at bwin: In 2001, it was introduced as a second product, after sports betting.^[16] The biggest ever casino jackpot win happened in 2014 when an individual won a little over 6 million Euros.

Soft games[edit]

bwin offered more than 60 games divided into the categories of Fortune Games, Skill Games, Mini Games and 'ParaDice', as well as Backgammon. This was the product group with the biggest potential for innovation and expansion on the market.^[17]

Legal Status[edit]

As the global legal framework for internet gambling is a complicated mix of laws and regulations, bwin's situation varied depending on the country concerned. Recently, Italy extended its online licences to include poker tournaments, and countries such as Denmark and Spain announced their intention to permit private operators access to their markets under stringent conditions and controls. On the other hand, other countries maintain a state monopoly on internet gaming, or ban it completely.

On 15 September 2006, Norbert Teufelberger and Manfred Bodner were arrested at a press conference in La Turbie, France, for allegedly breaking French gambling laws.^[18] After an investigation, a judge released them three days later. When France opened their market for private online gaming in June 2010, bwin became the first operator there.

In February 2013, the Australian Communications and Media Authority referred the Bwin arm of bwin.party to the Australian Federal Police for contraventions of the Interactive Gambling Act. The Act prohibits gambling companies from providing 'interactive' gambling services to those in Australia. Penalties for each breach, which can be for each day, are $220,000 for individuals and $1.1 million for corporations.

Sponsorship[edit]

Bwin recently sponsored football giants Real Madrid, A.C. Milan and Bayern Munich and more recently Olympique de Marseille.^[19] In October 2010, Bwin announced a sponsorship for the upcoming three football seasons in which it would be the title sponsor of the Taça de Portugal, named the 'Bwin Cup'.^[20] Italy's second tier, Serie B, has already been re-branded 'Serie bwin' after a two-year sponsorship deal was signed in July 2010.

On 16 August 2012, bwin announced it was entering into a digital partnership with Manchester United to become the club's official online gaming and betting partner.

In the past, many other top events in the international and local sports world were supported by the corporation. Bwin also sponsored the Portuguese first football league (bwinLIGA) and has been partner to clubs such as Juventus and Werder Bremen.^[21]

Bwin cooperated with the International Basketball Association (FIBA) and has sponsored the European and World Basketball Championships since 2006. A second basketball sponsorship is Euroleague Basketball. Bwin's marketing and media rights agreement for Euroleague events expired in June 2014.

In the area of motorsport, the company was one of the main sponsors of the MotoGP series. In 2012, it was the title sponsor of the races in Jerez and GP in Brno and official partner of the Misano, Mugello and Silverstone. In December 2011, bwin announced it would be extending its Moto GP sponsorships through 2013.

In addition, Bwin organised numerous poker events both online and offline. One of the biggest regular online tournaments was the ChampionChip. Special poker tournaments like the Weekly Country Showdown or the Bwin Dailies offered a range of tournaments adjusted to country specifics and buy-in levels. Periodically, there were launched new types and variations of Sit & Go's. Also, several online qualifiers the Bwin user could qualify for offline events like the World Series of Poker (WSOP), the Aussie Millions and events on the World Poker Tour. For 'poker newbies', Bwin offered the Rookie Challenge where a new poker player had the chance to climb up several stages for free to earn real money tickets.

The company faced some opposition in Europe over sponsorship of sports, especially football. In 2006, the German city of Bremen banned its top football club, Werder Bremen, from carrying the Bwin logo on its shirts.^[22]

In January 2014, the company announced major sponsorship deals with the New Jersey Devils and Philadelphia 76ers. The combined deals included major advertising to the fans of both teams and the creation of the Dream Seat Series, which was a series of online poker tournaments offering ticket packages to winners and other prizes to runners-up before every home game.^[23]

References[edit]

1. ^ ^abc'Preliminary Results 2014'. Bwin.Party Digital Entertainment. Retrieved 25 March 2015.
2. ^Blitz, Roger (31 March 2011). 'Gaming merger aims to outplay US rivals'. Financial Times. Retrieved 3 April 2011.
3. ^Poker Scout Online poker traffic rankings
4. ^ ^ab'Gambling firms Partygaming and Bwin reveal merger plan'. BBC News. 29 July 2010. Retrieved 29 July 2010.
5. ^4-traders (1 October 2012). 'Bwin.party Digital Entertainment Plc : Sale of Ongame to Amaya Gaming Group Inc'. 4-traders.
6. ^Sandle, Paul and Goodman, David ( 8 Nov 2013) Gaming group bwin.party granted New Jersey online licence reuters.com
7. ^Jones, Nick (20 December 2013) PartyPoker Claims 50% of New Jersey Market pokerfuse.com
8. ^'Online betting company Bwin accepts GVC takeover bid'. BBC News. 4 September 2015. Retrieved 6 September 2015.
9. ^Cook, David (5 January 2016). 'It's a date: BwinParty confirms the day GVC will take the reins'. Gambling Insider. Retrieved 10 January 2016.
10. ^'LSE Share cancellation announcement'. Retrieved 10 February 2016.
11. ^Factsheet: bwin Sport BetsArchived 3 March 2016 at the Wayback Machine Retrieved 9 April 2010
12. ^Factsheet: bwin PokerArchived 21 May 2013 at the Wayback Machine Retrieved 9 April 2010
13. ^bwin Announces PokerRoom.com Shutdown, 4flush.com, 15 April 2009. Retrieved 20 April 2009.
14. ^'Pokerroom Closes'. Recentpoker.com. 20 February 2013. Archived from the original on 20 May 2013. Retrieved 23 March 2013.
15. ^'Bingo'. bwinparty.com. Retrieved 25 November 2014.
16. ^Factsheet: bwin CasinoArchived 3 March 2016 at the Wayback Machine Retrieved 9 April 2010
17. ^Factsheet: bwin GamesArchived 3 March 2016 at the Wayback Machine Retrieved 9 April 2010
18. ^David Gow. 'Online gambling bosses arrested in France'. The Guardian. Retrieved 25 March 2015.
19. ^Bwin new sponsor of the Olympique de Marseille. Site de paris sportifs.
20. ^Bwin seal sponsorship of Portuguese Liga Cup. Retrieved 8 November 2010.
21. ^Factsheet: bwin Sport MarketingArchived 4 March 2016 at the Wayback Machine. Retrieved 10 April 2010.
22. ^'Werder Bremen to Appeal Betting Firm Sponsor Ban in Court'. DW.DE. Retrieved 25 March 2015.
23. ^'Devils, 76ers strike sponsorship deal with gaming website partypoker.com'. NJ.com. Retrieved 25 March 2015.

External links[edit]

Bwin Party Merger Meaning