Bwin Expanding
September 13, 2009
The online gambling site Bwin is expanding their horizons. The online gambling operator has decided to move into the Italian online poker market. The online gambling company has moved into talks to buy all of Italy's Gioco Digitale. This is a big move for the online gambling company.
With the announcement the online gambling company saw their shares rise as much as 7% to top out at €29.10. This is the highest the online gambling company has seen their shares since last July. Many thought that the online gambling company was going to be consolidating, which is why the shares had been on the rise. However, instead of consolidating it looks as though they are expanding.
The company that they are looking to purchase is one of the biggest online poker operators in all of Italy. They say that by doing this they are actually moving ahead of the deregulation of the Italian online gambling market. Analysts say that this is one of the best moves that the online gambling company could have taken.
Experts say that with the various countries coming into the online gambling market now, that they are likely to see many more of these types of deals. For a company like Bwin this is simply a much larger move than many saw coming. The online gambling company has truly been expanding its horizons. They say that with so much consolidation coming in the online gambling industry that this is probably only the first of this type of deal that they are going to see.
