No merger for Party Bingo and bwin

There have been many rumours recently that a merger was on the cards between Party Bingo and bwin, but it has been confirmed that this will not be happening now. Party Gaming own Cheeky Bingo and Foxy Bingo, and have been in talks with bwin, the European sports gambling giant. If things had gone ahead as speculated it would have created the largest bingo online group in the world.

Hannes Androsch, bwin’s largest single shareholder and chairman of the company’s supervisory board, said that talks to merge the two companies have been abandoned; “In the end, the talks have not led to the desired outcome”.

Party Gaming bought Cashcade only last July but due to the increase in legislation in all European gambling markets all online gaming companies, in the bingo industry and associated markets, are expected to undergo a series of acquisitions and mergers in order to become bigger and stronger to ensure survival in these difficult times.

Bwin have said they are in talks with a ‘competent’ American company who’s goal is to end up with a 11 per cent stake in the online gambling company. At the moment bwin hardly feature in the bingo industry. It is believed that the San-Francisco based company has been chosen for strategic reasons, to help bwin enter the all-important American market when it opens up for online gambling.

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