Issue N31, 2010
August 4, 2010
Party Gaming and Bwin Unite in Gigantic Merger
Definitely the most dramatic news this week was the announcement made by two of the biggest gambling giants in the industry, Party Gaming and Bwin Entertainment that they were set to merge. The joint venture will create the biggest publicly listed company in the online gambling industry, and will see Bwin become majority shareholder at just over 51%. The two Chief Executive Officers of the groups, Jim Ryan and Norbert Teufelberger will become the co-CEOS’s of the new company. The deal is still subject to the approval of at least 75% of the shareholders of both companies, and still has to meet the demands of regulatory and anti-trust authorities.
“This business combination makes great strategic, operational and financial sense,” said Bwin’s Teufelberger said in a statement. “We will be in pole position to capitalize on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry.”
Jim Ryan of Party Gaming said: “The enlarged group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cash flow generation and a highly experienced management team.”
Shares in both companies rose substantially on the Vienna and London markets following the merger announcement.
New Slot Game Debuts at Party Casino
BetSoft Gaming Limited has provided Party Casino the first game in its superb Slots3 games series and the five reel, 30 pay line slot machine, Heist made a stunning debut at the site this week. The three dimensional Heist promises to provide players with plenty of entertainment and has the potential to reward extremely well. Players can check out the great features, such as bonus rounds, wild reels and free spins, and enjoy the adventures of professional thief Neil Quailand and Detective Al Kowalski.
“We are delighted to welcome Heist to our portfolio of games and look forward to adding more BetSoft games in the near future,” said Party Casino. “Heist is just one of dozens and dozens games we will be adding to the world's largest online casino in the coming months.”
Aliya Alpiyeva, Marketing Director for software group BetSoft, said: “We are absolutely delighted to form this partnership with an industry leader like PartyCasino.com. Heist, the first Slots3 game to be delivered, is a proven classic and one that we feel will thrill PartyCasino.com's enormous and loyal player base. The cinematic realism of this true three-dimensional game appeals to a wide range of players, drawing them into Quailand's quest for the perfect bank heist.”
“With additional Slots3 games yet to come, we at BetSoft are looking forward to adding more games to PartyCasino.com,” added Alpiyeva.
US Gambling Bill Makes Progress through Legislative Channels
The legalization and regulation of internet gambling in the United States took one step closer to reality after the House Financial Services Committee voted in favor of Barney Frank’s HR 2267 bill. The bill calls for the licensing of gambling operators on a federal level by state gaming authorities. The bill is due to take the place of the controversial Unlawful Internet Gambling Enforcement Act.
“My primary goal is Americans ought to be free to do what they wish without this kind of intrusion,” said Frank, referring to the UIGEA. “The intrusive regulation is a problem for the financial institutions.”
The bill still has a long way to go until it reaches the stage when President Obama signs it into law, however there is hope that the growing need to supplement states’ empty coffers with a steady flow of income, as well as the support that the bill has managed to attract from 69 bi-partisan co-sponsors will be enough to see it through.
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Millionaire’s Club Jackpot Continues to Grow… and Grow…
InterCasino, the leading online casino site, recently celebrated the £1.025 million milestone reached by the Millionaires Club jackpot by commissioning an interesting survey regarding the public’s perception of wealth. The jackpot on this super nine line slot game continues to grow and grow, and players are flocking to Inter Casino to try and get their hands on the eye-watering prize. According to the study commissioned by the site, 49% of those questioned said that they would gladly give up sex for a year to become a millionaire. One third said that they would stop using Facebook for a chance to get rich.
“In these cash-strapped times, many of us would go to great lengths for the chance to become millionaires,” said InterCasino in a statement. “The nation's obsession with social networking, however, means that many of us would prefer to put our sex lives on hold rather than risk missing out socially by quitting sites such as Facebook.” The survey was carried out on 2,000 people players from the United Kingdom.