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Bwin in deal with Gioco Digitale

9/7/09 - Vienna-listed online gambling group Bwin has scored a major coup and some formidable positioning in the Italian market following an agreement to acquire the Italian group Gioco Digitale.  With hopes high for an imminent and positive regulatory system in Italy the agreement is especially valuable and significant.
 
Closely held Gioco boasts it is Italy's first independent online gaming site and offers mainly poker, betting and skill games, but there is clearly good potential for expansion into other genres under the Bwin banner.
 
A  timeframe for the takeover has yet to published, and the terms of the deal have not been disclosed, although some idea of value can be deduced from a report in the Italian newspaper Finanza & Mercati, which said said last week that an investor had bought 10 percent of Gioco for more than Euros 2 million. This fits with previous estimates of around Euro 90 to 100 million.
 
Industry observers say that the burgeoning Italian market is ripe for the sor of consolidation tha the Bwin deal represents. Gibraltar-based Party Gaming recently acquired an online poker operator, while 888 has said it is close to buying an as yet unidentified asset.
 
A recently passed law due to be enacted this autumn, means that poker cash games and other games of chance will be permitted in Italy in addition to sports betting and online poker tournaments, raising the profile of the market.
 
According to the Bwin announcement, the boards of both companies and its shareholders have agreed on principle terms for the acquisition of 100 percent of Gioco Digitale, but did state that although the acquisition was progressing, there could be no certainty that a final binding agreement on the transaction will be reached.

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Gambling News :

More Computers Smashed in Online Gambling Raids - More computers seized in police online gambling raids were trashed Monday when the Serdang police destroyed 1,312 machines to keep them out of circulation.

2017 Aussie Millions Event 1 - The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.

Swiss Reject idea to Block Gambling Websites - The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.

Growth Ahead For Online Gambling - Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.

New Qubit software For SkyBetting - #qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.

Slotfather II Slot Launching - #betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..

Massachusetts Online Lottery Bill - Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.

Italy Doing Well With Online Sports betting - The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.

Michigan To Reintroduce Online Gambling Bill - #Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.

MGM Buys DC office building For lobbying team - #MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.

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