Ongame network of Bwin.Party to be sold

07-01-2011

Bwin.Party digital entertainment has recently publicized the starting of the share trade in program and the sale of their Ongame network in the most recent trading update which has been released this particular week.

The company had made a report on their trading performance during the period which starts from April 2011, in which they told that they have been largely in-line with the expectations of the management. The sole exception in this was that of the sports margins which was due to the positive run of the events for the players in the month of May.

A formal process has initiated for selling their Ongame B2B network where the firm is expecting the sale to be over till the end of this particular year of 2011.

Bwin.Party will also be embarking on the share buy-back program which will be till GBP 75 Million which is to be done from the available cash resources.

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