September 8 - As the Italian gambling market gets closer than ever to
deregulation, several online gaming groups are eyeing potential mergers and
acquisitions to take home a piece of the pie when legislation starts to change.
The latest news in the industry is that the Austrian betting and gaming
group, bwin, is very near to closing a deal to purchase the Italian firm,
Gioco Digitale from its current shareholders.
Purchasing the Italian group will allow bwin to expand its sports betting,
poker and casino operations significantly in the local gambling market.
The plan is to buy 100% of Gioco Digitale, a group that claims to be Italy's
first independent internet gaming site. Gioco offers players quality betting
products, skill games and poker entertainment.
A leading Italian newspaper last week reported that an unidentified investor
had purchased a 10% share into Gioco to the tune of $2.9 million.
Bwin would not reveal how much it intends paying for Gioco Digitale when the
deal goes through.
Shares in? bwin rose to EUR 27.42 with the potential acquisition news.
The profile of the entire Italian gambling market is to be raised this fall,
after a law allowing poker cash games and other games of chance goes into
effect.
Sportsbetting and online poker tournaments are already permitted in Italy.
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