Austrian Gambling Group Bwin Agrees To Buy Italian Gaming Firm

Bwin

Austrian online betting group bwin on Monday confirmed it has agreed to buy Italian rival Gioco Digitale. The self-proclaimed world’s largest online gambling company, which processes 30,000 bets a day in 22 languages, said it was in the final stages of talks to buy 100 percent of the Italian firm from its shareholders in a short statement to the market. A recent law change in Italy has legalised online card games, leaving the door open for a foreign, established gaming company to swoop in and take advantage.

There has been some real consolidation in the online betting market this year: Gibraltar-based PartyGaming bought the World Poker Tour operator WPT Enterprises for $12.3 million (£7.5 million) in August and in July spent £91.9 million to buy UK online bingo operator Cashcade, which was minority-owned by Independent News & Media.

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