PartyGaming

PartyGaming and Bwin create the largest online gambling company in the world

July 30, 2010 - 6:00am | News | Other themes

As the US lawmakers seem to reconsider the legislation for the online gambling in the United States PartyGaming and Bwin have agreed to merge. The merged company will be the world's largest listed online gaming company, with pro forma revenues for 2009 of €682m and earnings of €196m.

Under the terms of the merger agreement 48.36% of the joint company will be owned by PartyGaming shareholders and 51.64% owned by Bwin investors.

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PartyGaming to merge with bwin Interactive Entertainment

December 14, 2009 - 12:25am | News | Other themes

According to the reports in the Sunday Times the popular online gambling company PartyGaming is in talks with the Austrian rival bwin Interactive Entertainment over the possible agreement so as to combine their businesses and create an Internet gambling giant.

According to the report the two companies have been holding on-off talks since the summer about combining to create a group worth 2 billion pounds ($3.30 billion).

bwin Interactive Entertainment | Internet casino | online gambling | PartyGaming

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World Poker Tour is being acquired by British PartyGaming

August 25, 2009 - 8:13am | News | Other themes

PartyGaming Plc, British online gaming group, announced today that it agreed to acquire US company WPT Enterprises Inc, known as World Poker Tour, for $12.3 million in cash. The deal is to be completed in the fourth quarter of 2009.

PartyGaming also intends to pay a minimum of $3 million over the next three years to World Poker Tour's vendors on an ongoing revenue share related to the assets bought.

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European Commission starts a war against the USA and anti-gambling law

June 11, 2009 - 4:03am | Articles | Law aspects

It was reported that the European Commission has found that the legal proceedings of the US authorities against European online gambling companies were unjustified and discriminatory. Moreover it was said that if US agencies do not stop the prosecution and compromise an action they may take the case to the World Trade Organization.

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Online gambling legislation was introduced on May 6

May 7, 2009 - 7:16am | Law aspects | News

On Wednesday U.S. House Financial Services Committee Chairman Barney Frank introduced his online gambling draft bill which purports to throw down a 3-year-old ban on Americans placing online bets. The new legislation known as the Internet Gambling Regulation Consumer Protection & Enforcement Act would establish a federal regulatory and enforcement framework for online gaming.

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PartyGaming achieved a settlement with U.S. authorities

April 8, 2009 - 2:34am | Law aspects | News

An online gambling company PartyGaming announced a legal settlement with the U.S. investigators. As it is known the U.S. Attorney General was investigating into the gambling site since the time when the U.S. Congress passed the Safe Port Act in 2006 which effectively banned online casino businesses to accept U.S. citizens.

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Anurag Dikshit’s PartyGaming settles with U.S. and reports 61% profit gains

March 12, 2009 - 2:37am | News | Other themes

Anurag Dikshit founded online gambling company PartyGaming reported that it is near to complete the negotiations with the U.S. government. According to the company CEO Jim Ryan no company executives are expected to enter a criminal plea with the amount of fine to be imposed on PartyGaming to account for about $150 million, less than earlier expected $300 million.

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PartyGaming founder Anurag Dikshit is to settle with US authorities

December 16, 2008 - 9:41am | Law aspects | News

Several UK services have announced PartyGaming co-founder Anurag Dikshit to have agreed to plead guilty to one or more charges related to illegal online wagering, and paying US authorities a fine reported as $300 million (£196 million).

Dikshit owns 27% of PartyGaming, husband and wife DeLeon and Parasol retain 14% of the company each. Dikshit, born in India, is under the risk a jail term of up to two years by entering the US to make the plea agreement. Parasol and DeLeon, are reported not to be seeking to negotiate with the US.

London Stock Exchange | online gaming company | PartyGaming | UIGEA

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