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Update On Bwin-Party merger
Posted 3/15/11 : Shareholders overwhelmingly approve merger, which enters the companies register
In a joint announcement this week, Bwin Interactive and Party Gaming plc report that their merger, which will create the world's largest online gambling company, is on track to complete by March 31, 2011.
Following the almost unanimous approval of the merger at the extraordinary general meetings of both Bwin Interactive Entertainment AG and Party Gaming plc on 28 January 2011, the proposed merger was formally entered into the companies’ register by the Vienna Commercial Court on 15 March 2011.
Subject to the formal approval from the Supreme Court in Gibraltar, the merger is expected to complete on 31 March 2011.
Bwin shares will cease trading on the Vienna Stock Exchange at close of business on 25 March 2011. For administrative reasons, trading in Bwin shares on the Vienna Stock Exchange must be suspended for three days prior to completion and also on the day of completion itself (31 March 2011).
On 1 April 2011, existing Bwin shareholders will receive 12.23 bwin.party depositary interests for each Bwin share free of charge. These depository interests can then be traded on the London Stock Exchange under the ticker symbol BPTY.L.
The exchange ratio of 12.23 bwin.party depositary interests for each bwin share will result in so-called ‘fractional entitlements’, rights to fractions of bwin.party depositary interests that cannot be traded on the London Stock Exchange. In accordance with the terms of the merger, these entitlements will be disposed of, and the proceeds of sale credited to the original beneficiaries (former Bwin shareholders) in a process that may take up to two weeks.
Following the approval of the merger in Germany by the Federal Cartel Office and in Austria by the Federal Competition Authority, Bwin has now also received anti-trust approval from the relevant authorities in Romania.
The new bwin.party depositary interests will carry a dividend entitlement with effect from 1 January 2010. The company’s dividend policy will be determined by the new board of bwin.party digital entertainment plc over the next few months.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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