International law firm Bird & Bird LLP worked with Austrian law firm Brandl & Talos and Clifford Chance to advise Vienna Stock Exchange listed bwin Interactive Entertainment AG (“bwin”) on its merger with London Stock Exchange listed PartyGaming Plc. The merger will create the world’s largest listed online betting and gaming business with market leading positions in all key verticals of sports betting, online poker, casino and games (including bingo).
Formed in 1997 as betandwin, bwin (as it’s been known since 2006) was the first website offering sports bets. Since 2002, customers have been able to place bets on sports events live via its flagship product, live bet. With more than 20 million users, the bwin brand is recognised for its commitment to responsible gaming and for setting new standards in the online gaming industry.
The Bird & Bird team led by London-based corporate partner Simon Fielder and associates Helen Gavin-Brown and Richard Graham, assisted bwin on matters including UK due diligence in respect of PartyGaming and the provision of options advice.
The Brandl & Talos team, which led the transaction, was headed by Thomas Talos and Christian Taler. PartyGaming was advised by Freshfields.
Simon Fielder, Partner, Bird & Bird, London commented: "It was great to assist bwin on what is truly a transformational deal. As a firm, we have strong credentials in working with internet gaming businesses and we continue to grow our client basis and profile in this area.”