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Bwin.party Ongame Network For Sale

Bwin.party announced today that it is moving ahead with plans to buy back shares of its stock and to sell its Onegame Network. The process, which is expected to be completed by the end of 2011 comes after announcing performance results that have fallen in line with company projections, except for its sports betting margins due to good fortunes for players in the month of May. Bwin.party's plan to buy back shares utilizes up to £75 Million from the company's cash resources.

Gibralter based Bwin.party is the strategic result of a series of mergers recently completed in 2011. Before the UIGEA was passed in America, it was the world's largest poker room. With revenues of 357.3 million Euro, it is the world's largest publicly traded online gambling company and trades on the London Stock Exchange.

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