Party Poker’s parent company, PartyGaming, already made big news earlier this year after merging with sportsbook giant Bwin. And it’s possible that the merged company could make even more big news since rumors are flying around about Wynn Resorts purchasing Bwin.Party.
Fortunately for Bwin.Party, the rumors proved to be very profitable after their stock prices soared when investors heard about the potential move. ShareCast reported on the matter by writing the following:
Bwin.party Digital Entertainment saw its share price head north as rumours persist that a US company has it in its sights.
Casinos operator Wynn Resorts is one name in the frame, with a take-out price of 170p per share being talked about.
Bwin.party, the world’s largest online gaming group, already has its US poker network, OnGame, on the auction block.
The sale is expected to generate between 20m and 30m euros ($28.5m to $42.7m), a modest figure reflecting the loss of players the network will encur through the sale.
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Assuming a US company like Wynn Resorts did buy Bwin.Party, this would further fuel rumors that US poker regulation is right around the corner. Previously, Wynn Resorts was in talks with PokerStars to offer online poker services to players if legislation came through. However, this business deal fell through the cracks after PokerStars was indicted by the US Department of Justice for money laundering charges.
PokerStars has since pulled out of the US online poker market, and worked with the DOJ to rectify the situation. Even still, it looks like they’re going to miss out on the deal with the Wynn, and Bwin.Party might be the biggest winners in the situation. Neither Bwin nor Party Poker have offered services to US residents since the UIGEA was signed into effect in 2006, so the newly formed company looks to do well when/if legislation is created.
