bwin.party puts Belgian issues behind it with Partouche deal

bwin.party digital entertainment, the FTSE 250-listed online gambling group, said that Belgian authorities have dropped all legal disputes with the company after it entered into a collaboration agreement with French casino operator Partouche.

bwin.party digital entertainment, the FTSE 250-listed online gambling group, said that Belgian authorities have dropped all legal disputes with the company after it entered into a collaboration agreement with French casino operator Partouche.

Partouche's Belcasinos division is one of four land-based casino operators that are edible to apply for the requisite licence to operate online poker and casino in Belgium. Under the terms of the agreement, bwin.party is to offer sports betting, poker and casino games to customers in Belgium.

The deal has been approved by the Belgian Gambling Commission (BGC), which will remove bwin.party's sites from its blacklist, the company said.

"The group and the Commission have also agreed to drop all pending legal disputes and the group has begun to adapt its systems in order to comply fully with the prevailing licensing regime," bwin.party announced.

Jim Ryan and Norbert Teufelberger, the Co-Chief Executive Officers of the company, said that they were "excited" about the agreement with Partouche.

"Following recent developments in Belgium and after further dialogue with the local regulator, we have put our differences of opinion behind us and are now focused on the immediate commercial opportunity.

"Together with our new partner we are now in the process of securing the necessary approvals to meet the requirements set by the BGC and do not expect any interruption to our service for customers in Belgium."

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

Lab-grown meat: how “moo’s law” will drive innovation
Soft commodities

Lab-grown meat: how “moo’s law” will drive innovation

Jim Mellon and Anthony Chow, co-founders of Aim-listed Agronomics, explain why they believe that “cellular agriculture” will benefit from massive long…
16 Apr 2021
The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Lab-grown meat: the new agricultural revolution
Soft commodities

Lab-grown meat: the new agricultural revolution

Vegan alternatives are taking off, but the future of food technology lies in lab-grown meat – cultivating steaks and burgers from animal cells, says A…
16 Apr 2021