Partygaming and Bwin announce their long awaited merger.

The long expected merger between online casino groups Bwin and Party Gaming has finally been announced and while it is not yet a done deal a significant number of major shareholders from both companies have shown support for the deal. The new company will be the worlds largest online gambling company and will probably have a new name. The new company will be run by Norbert Teufelberger who is currently CEO of bwin and Jim Ryan, currently CEO of Partygaming as joint chief executives and will be owned 48.3% by Partygaming shareholders and 51.6% by bwin shareholders. Both gentlemen see the merger as a very positive move combining the strengths of the two companies and in particular Partygamings position in the online poker market and Bwins sports betting although of course both companies already have a full selection of games in their online casinos. One of the determining factors must be the casino news that the Financial Services Committee of the House of Representatives have voted through of a bill to overturn the much talked about Unlawful Internet Gaming Enforcement Act. The act which was introduced in 2006 blocked all US gamblers from playing at online casinos and although the vote does not immediately make everything legal again the news will be music to the ears of Partygaming who derived a major part of their profits from the US before the bill was passed.