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Bwin and Partygaming shareholders approve proposed merger

posted 1/29/11 : bwin Interactive Entertainment and PartyGaming shareholders approve proposed merger at extraordinary general meetings
 
Online gambling giants, PartyGaming PLC and bwin Interactive Entertainment AG shareholders held separate Extraordinary General Meetings today and have announced the approval of the anticipated merger.
 
All nine resolutions relating to the approval of the merger with bwin, including the change of name from PartyGaming Plc to bwin.party digital entertainment plc, were approved by PartyGaming Shareholders.  This followed the approval by bwin Shareholders at a bwin Shareholder meeting held earlier today of all five resolutions relating to the merger and associated matters.
 
The approvals in both extraordinary general meetings were a condition for carrying out the proposed merger and the legal measures specified by the merger plan can now be implemented during the coming weeks.
 
The deal is worth $3.3 billion based on share prices when the transaction was unveiled in July 2010 and the two companies have styled the all-share deal a merger of equals although bwin shareholders will end up owning 51.6 percent of the company while investors in PartyGaming will hold the remaining 48.4 percent reports Reuters.
 
The Company’s change of name to bwin.party digital entertainment plc will be registered when and if the Court order sanctioning the merger takes effect, which is anticipated to happen on 31 March 2011.
 
Commenting on the results of both EGMs today, Jim Ryan and Norbert Teufelberger, the proposed co-CEOs of the combined group said:
 
“Today’s shareholder meetings were a key milestone in the overall process, putting the transformational merger of our two companies well on the way to Completion.
 
“We are delighted that both sets of shareholders have overwhelmingly recognised the strategic, operational and financial benefits of creating the world’s largest listed online gaming company.”



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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