bwin Pays €115 Million for Italian Online Poker RoomAustrian Betting Giant Offers Shares and Cash for Gioco Digitale |
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Publicly-quoted Austrian bookmaker bwin today announced details of its takeover of leading Italian online poker room Gioco Digitale. The company will pay up to €115 million for the company which has a 20 percent share of the newly regulated and liberalized Italian online poker market.
The deal will see bwin pay up to €50 million in cash and offer 2.3 million bwin shares in the deal which will see its total market share reach around 27 percent.
In the first half year of 2009, Gioco Digitale’s net revenue was €20.1 million and earnings before interest, tax, depreciation, and amortization (EBITDA)of €9.2 million.
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