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Details on 888's Bwin Purchase Emerge

888's CEO has told Reuters about his company's plans for when they complete their stunning £898 million, revealing some interesting details about the merger.

888 will reportedly issue new shares of its company in order to take over Bwin, with 888 holding 51.1% of the company and Bwin holding 48.9%, this according to 888 CEO Brian Mattingley. The two firms will merge their poker operations to create a mega-firm that Mattingley hopes will be able to strongly compete with Amaya owned PokerStars and Full Tilt.

Other interesting tidbits revealed by Mattingley were:

  • The 888/Bwin merger will see the groups' collective US operations controlled by 888, giving the market a strong and condensed operator as the territory expands to allow for more betting.

  • Bwin's current CEO Norbert Teufelberger will step down as part of the deal, but will stay on as a consultant once the merger is finished.

  • The deal will result in 888's earnings being boosted in the first year in which it is completed.

Casino Listings will update this story as more developments arise.

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