Online Gambling Giants PartyGaming, Bwin to Merge

Authored by Mark Hefflinger on July 30, 2010 - 7:05am.

London - European online gambling firms PartyGaming and Bwin Interactive Entertainment have agreed to a merger that will create the world's largest publicly-traded Internet gambling operation, The New York Times reported.

The Times notes that Italy and France recently approved the operation of privately-owned gambling sites, while neighboring countries are considering following suit.

This week in the U.S., a bill that would overturn a 2006 law banning most forms of online gambling passed a vote in the House Financial Services Committee.

Combined, PartyGaming and Bwin in 2009 generated gambling revenues of $893 million.

http://www.partygaming.com

http://www.bwin.com