After its merger with PartyGaming, bwin has moved its headquarters to Gibraltar
The domestic Internet betting provider bwin recently merged with the British PartyGaming, and becomes the world's largest betting provider. However, the company has moved its headquarters from Vienna to Gibraltar after the takeover.
bwin Interactive Entertainment Ltd. and PartyGaming merged recently into a company registered in Gibraltar and listed on the London Stock Exchange.
The Austrian group is associated with 51.6 %, the rest goes to PartyGaming.
Norbert Teufelberger, bwin’s co-CEO, said: "The merger of our companies opens new strategic, financial and operational opportunities. We will be in a pole position to exploit the market potential of the worldwide expanding online gambling industry".
bwin employs 1,500 people worldwide, with more than half of them working in Vienna. Despite the headquarters shift, bwin will keep its presence in the Austrian capital with a competence center, as well as in Stockholm and Gibraltar.
Meanwhile, the semi-annual figures of the fusion partner PartyGaming have been laid on the table. The British Internet gambling company PartyGaming was able to increase its revenue and profits considerably during the first half-year 2010. The gaming revenue grew by 30 % to 181.2 million euro, largely through acquisitions and growth in the casino and sports betting business. After taxes, a profit of 19.7 million eurowas left, while during the first half of 2009 a loss of 46.5 million euro was recorded. While the poker revenues fell to 64.4 million euro (after 71.2 million euro), the casino clients of Party Gaming had their briefcases unburdened by 76.4 million euro (62.1 million euro). The thrill of bingo was worth 25.8 million euro (1.2 million euro) to the players, and 10.2 million euro (€ 5.4 million) were bet on sports.