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 top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Bank of England hikes key interest rate to 4.25%
UK Economy

Bank of England hikes key interest rate to 4.25%

The Bank of England raised rates by 0.25% following a surprise jump in inflation.
23 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023
When will interest rates go up?
UK Economy

When will interest rates go up?

The Bank of England raised rates to 4.25%, its 11th consecutive increase. Does the base rate have further to go?
23 Mar 2023