PartyGaming, based in Gibraltar but listed in London, took a small step into sports betting three years ago with the €102 million (£91.6 million) purchase of Gamebookers, but in recent months it has been declaring its determination to seek a bigger company to complement its traditional strengths in online poker, casino and, more recently, bingo.
Party Gaming has recently reported a profit of $54,000,000. This is a drastic increase on last years $13,300,000. As part of their goals to enter the European market, Party Gaming PLC are planning the acquisition of Bwin Interactive Entertainment. A well know and respected member of the Online gaming industry.
The Newly named brand of “party digital entertainment Plc” will hope to build on recent Casino and Bingo profits as margins from poker have been poor compared to rival companies that still accept U.S. customers.
"Bingo is growing and ready to roll out across Europe." and “party digital entertainment Plc” are expected to be one of the first companies to roll out a massive promotional campaign.
According to Party Gaming reports, Casino sales gained 11 percent to 151.4 million Euro, while bingo more than doubled to 52.5 million Euro.
PartyGaming Chief Executive Officer Jim Ryan said he is “confident it can meet targets of annual post-merger savings of 55 million Euro per year by 2025″.
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