Party Gaming and Bwin released a near-500 page document to shareholders Thursday providing more details of their merger.
The document outlined operational plans and corporate structure post merger and shareholders will get to voice their approval (or disapproval) at a 28 Jan AGM merger vote.
It is planned that the merger will be complete and effective by the end of Q1 2011. By this time a new holding company named bwin.party Digital Entertainment plc will be formed. It will own the Bwin and Party Gaming brands, be based in Gibraltar and listed on the London Stock Exchange. Current Party Gaming and Bwin shareholders will have a respective 48.4% and 51.6% stake in the holding company.
Current headquarters for Party Gaming (Gibraltar) and Bwin (Austria) will remain unchanged.
Also unchanged will be the brands that the players have come to to know over the last decade. Core brands will continue to exist.
Norbert Teufelberger, Co-CEO of bwin told shareholders, “Our products and target markets complement one another perfectly, and we can continue to expand our technology lead in all key product segments: sports betting, poker, casino, bingo, and games.”
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