Casino Choice UK News Archive
Bwin Nears Deal with Gioco Digitale
Bwin,
the popular online casino operator, has just announced that it is preparing to
enter the Italian gambling market. It is preparing to acquire Gioco Digitale, a
leader in Italian gaming, a move that will put Bwin ahead of the rest of the
game. The deal, which is rumoured to be worth €90 to €95 million, states that
Bwin agrees
to buy 100% of Gioco from current shareholders.
A new law is in the works, as the Italian government considers allowing Italian residents to play casino games and cash poker games online, which is why online gaming officials are predicting that Italy is the next big online gambling market – and Bwin has put its foot in the door early. While many online casino operators are still concocting their plans to break into the Italian market, Bwin has already formulated and is in the process of executing its own.
As bigger online gambling operators buy smaller gaming companies the European market gets closer to consolidation. This move follows the latest trend of online operators acquiring assets in what experts call is “fragmented” European market. PartyGaming has already acquired poker and bingo operators, while 888 is also working on an unnamed acquisition deal.
Gioco is currently the biggest gaming brand in Italy, processing over 30 000 bets each day. The company holds 20% of the Italian market share. The acquisition of this company would certainly make Bwin a leader in Italian online gaming.
A new law is in the works, as the Italian government considers allowing Italian residents to play casino games and cash poker games online, which is why online gaming officials are predicting that Italy is the next big online gambling market – and Bwin has put its foot in the door early. While many online casino operators are still concocting their plans to break into the Italian market, Bwin has already formulated and is in the process of executing its own.
As bigger online gambling operators buy smaller gaming companies the European market gets closer to consolidation. This move follows the latest trend of online operators acquiring assets in what experts call is “fragmented” European market. PartyGaming has already acquired poker and bingo operators, while 888 is also working on an unnamed acquisition deal.
Gioco is currently the biggest gaming brand in Italy, processing over 30 000 bets each day. The company holds 20% of the Italian market share. The acquisition of this company would certainly make Bwin a leader in Italian online gaming.
Submitted: 2009/09/14 at 09:30:00
