BWIN to Purchase Gioco Digitale

BWIN to Purchase Gioco Digitale

Leading online betting and gaming provider BWIN Interactive Entertainment AG has announced its intention to purchase Italy’s Gioco Digitale SpA.

Bwin stated last quarter that it was planning to expand its Italian poker, casino and sportsbetting operations and, if approved, this purchase would see the Austrian firm become a major player in this expanding market overnight.

“The board of Bwin Interactive Entertainment AG and Gioco Digitale SpA and its shareholders have agreed on principle terms for the acquisition of 100 percent of Gioco Digitale,” read a statement issued yesterday by Bwin.

“The parties are in the final stages of working on a sales and purchase agreement. However, there can be no certainty that a final binding agreement on the transaction will be reached.”

Gioco Digitale markets itself as Italy's original independent online gaming site and offers poker, betting and skill games. Although details on the size of the deal have not been disclosed, the Reuters news agency quoted Daniel Stewart And Company analyst James Hollins as estimating the purchase price to be around $143 million.

Source: iGaming Business September 2009