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.

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.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"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."