Archive for July 2010

bwin partygaming merger world’s biggest online gaming company

Proposed merger of PartyGaming and bwin

The proposed merger of bwin and PartyGaming, announced on 29 July 2010, will bring together two of the original pioneers and now giants of the online gaming world. The merger will create the clear market leader with leading positions across all of the key product verticals of poker, sports betting, casino and games which includes bingo.

Check it out here the new bwinparty website with all share price stock information.

Webcast
To view a replay of a webcast presentation to analysts and investors given by PartyGaming CEO, Jim Ryan and bwin Co-CEO, Norbert Teufelberger click here.

Below is a summary of documents and links relating to the proposed merger which you may find useful:
http://www.partygaming.com/prty/uploads/dlibrary/documents/290710ProposedMergerofPartyGamingandbwin.pdf
PartyGaming.com sites: www.partypoker.com www.partycasino.com
Bwin.org sites: bwin.com pokerroom.com ongamenetwork.com

bwin and PartyGaming merger to create world’s largest online gaming company

Perfect match of two online entertainment pioneers.

Vienna/London, 29 July 2010 – Today, Thursday, bwin and PartyGaming have announced the planned merger of these two companies. The fusion of these two pio-neers of online entertainment will be a “merger of equals”, and will create easily the world’s largest publicly listed online gaming company. “We have made history today, and will revolutionize the world of online entertainment as a result of this move,” explains Norbert Teufelberger, bwin Co-CEO. “This marriage with PartyGaming will be the next milestone in the successful history of bwin.”

“These two companies are a perfect match. Not only shall we have the first full-house for sports betting, poker, casino and games, together we shall be Number One with respect to product portfolio, technology, development, marketing and customers,” underscores bwin Co-CEO Manfred Bodner.

“The timing of this merger is optimal, as the industry is currently going through a phase of consolidation, and size does indeed matter,” according to Teufelberger. Europe and the USA are well on the way to regulation. “One can achieve more as the market and technology leader, thus assuring our future,” added Teufelberger.

55 million Euros in synergies with the merger
The merger is expected to generate synergies totalling 55 million Euros. However, these will not only be cost synergies: on the contrary, the merger will result in syner-gies of opportunity, marketing and revenue.

Headquarters to be established in Gibraltar
bwin shareholders will receive 51.6 per cent, and PartyGaming shareholders 48.4 per cent of the new company. The company’s headquarters will be established in Gibraltar. bwin’s business locations in Vienna and Stockholm are not under discussion. The new company will be listed on the London Stock Exchange, and will probably be included in the FTSE 100 index.

International bwin brand to be retained
The two successful bwin and PartyGaming brands will be retained. The new company will be headed by the two Co-CEOs Norbert Teufelberger and Jim Ryan. Norbert Teu-felberger was previously Co-CEO with bwin, Jim Ryan CEO with PartyGaming. bwin Co-CEO Manfred Bodner will be moving to the Supervisory Board of the new company, and will be responsible for brand integration and strategic sales topics.
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About bwin
The bwin Group has over 20 million registered customers in more than 25 core markets. On a number of different platforms, the Group offers sports betting, poker, casino games, soft and skill games, as well as audio and video streams of top sporting events such as the German Soccer League. The holding company bwin Interactive Entertainment AG is listed in the ATX on the Vienna Stock Exchange (ID code BWIN, Reuters ID code BWIN.VI), and as the parent company provides various services such as software development, marketing, communications, human resources and finance for its subsidiaries and associated companies. The operational business of the bwin Group is carried out by subsidiaries and associated companies on the basis of licences (e.g. Germany, Italy and Gibraltar). Full details about the Company can be found on its investor relations website at www.bwin.org.

bwin and PartyGaming to merge
Vienna, 29 July 2010
Highlights
 bwin Interactive Entertainment AG (“bwin”) and PartyGaming PLC
(“PartyGaming”) to merge and form a combined entity incorporated in
Gibraltar and listed on the London Stock Exchange.
 Merger implementation agreement signed by bwin and PartyGaming on
29 July 2010.
 Combined entity to be owned approximately 48.4 % and 51.6 % by
PartyGaming and bwin shareholders, respectively.
 Merger approved by supervisory board of bwin and board of directors of
PartyGaming and supported by core shareholders of both companies.
 Norbert Teufelberger and Jim Ryan to be Co-CEOs of the combined entity and
key management positions to be held by senior management individuals of
both companies.
Commenting on the proposed merger, Norbert Teufelberger, Co-Chief Executive of
bwin said:
“This business combination makes great strategic, operational and financial sense. We
will be in pole position to capitalise on the wealth of opportunities that will flow from
the continued evolution and expansion of the global online gaming industry.”
Commenting on the proposed merger, Jim Ryan, Chief Executive of PartyGaming
added:
“With market-leading positions in poker, sports betting, casino and games (in particular
bingo), the enlarged Group will have a winning formula to exploit the growing online
gaming market, supported by a strong balance sheet, significant cashflow generation
and a highly experienced management team.”
On 29 July 2010, bwin and PartyGaming entered into an implementation agreement on
the proposed merger (the “Proposed Merger”).
Under the Proposed Merger, the assets and liabilities of bwin will be transferred to
PartyGaming thereby forming a Societas Europaea (European joint stock company)
incorporated in Gibraltar. Current shareholders of bwin will receive approximately
51.6 % of the shares and current shareholders of PartyGaming 48.4 % of the shares in
the combined entity. The Proposed Merger does not entail a mandatory takeover offer
(Pflichtangebot) to the shareholders of bwin under the Austrian Takeover Act
(Übernahmegesetz). Upon completion of the Proposed Merger, bwin shares will be delisted
from the Vienna Stock Exchange and the shares in the combined entity will be
listed exclusively on the London Stock Exchange.
The Proposed Merger is subject to certain conditions which include:
- the approval of the transaction by separate extraordinary meetings of the bwin
and PartyGaming shareholders;
- the receipt of certain antitrust and regulatory clearances; and
- satisfaction of employee consultation requirements as applicable to the
formation of a Societas Europaea.
-
The supervisory board of bwin and board of directors of PartyGaming have agreed a
balanced management structure for the enlarged group, drawing upon the
management strength of both groups. The board of the enlarged group will be led by
Norbert Teufelberger and Jim Ryan who will be Co-Chief Executives. Martin Weigold will
be Group Finance Director and Joachim Baca will be Chief Operating Officer. It is
intended to appoint a new independent, Non-Executive Chairman who will join the
board of the enlarged Group upon completion. Excluding the Chairman, there will be
equal executive and non-executive representation from current members of the
PartyGaming Board, the bwin Board and senior management. Manfred Bodner (Co-CEO
bwin) will move from the bwin Board to be a non-executive director on the board of the
enlarged group and will be involved in brand-integration management and strategic
sales topics.
Key shareholders of both bwin and PartyGaming (bwinparty)have undertaken to vote in favour of
the Proposed Merger in the relevant shareholders’ meetings which are currently
envisaged to take place during the first quarter of 2011. Completion of the Proposed
Merger is expected to take place soon after the shareholders’ meetings.
PartyGaming has published a more detailed announcement regarding the Proposed
Merger in accordance with applicable law in the United Kingdom which may be obtained
at www.partygaming.com/prty/en/investors/ifinancialnews/fn_pressreleases.
Further announcements regarding the above transaction will be made as appropriate.
Analyst meeting, webcast, dial-in and conference call details: 29 July 2010
There will be an analyst meeting for invited UK-based analysts at Deutsche Bank, 1
Great Winchester Street, London EC2N 2EQ starting at 12.00 am BST. There will
be a simultaneous webcast and dial-in broadcast of the meeting. To view the live
webcast, please visit the Group website (www.bwin.org). Details for the dial-in facility
are given below. A copy of the webcast and slide presentation given at the meeting will
be available on the Group’s website later today.
Dial-in details to listen to the analyst presentation: 29 July 2010
11.50 am Please call +44 (0) 203 003 2666
UK Toll Free 0808 109 0700
Title PartyGaming/bwin
12.00 am Meeting starts
A recording of the meeting will be available for a period of seven days from 29 July
2010. To access the recording please dial the following replay telephone number:
Replay telephone number +44 (0) 208 196 1988
Replay passcode: 6939753#
International Conference call: 29 July 2010
For international analysts and investors there will also be an opportunity to put
questions to Norbert Teufelberger, Chief Executive Officer of bwin and Jim Ryan, Chief
Executive Officer of PartyGaming, by way of a conference call. The details of the call
are as follows:
6.50 pm Please call +44 (0)203 003 2666
UK Toll Free 0808 109 0700
7.00 pm Conference call starts
A recording of the conference call will be available for a period of seven days from 29
July 2010. To access the recording please dial the following replay telephone number:
UK Replay number telephone +44 (0)208 1961 988
UK Replay passcode: 9129104#
All times are British Summer Time.
Contact information:
Investors
Konrad Sveceny, Head of Investor Relations
P: +43(0)50 858-20017
E: investorrelations@bwin.org
Press
Katharina Riedl, Head of Corporate Communications
P: +43 (0)50 858-20069
E: press@bwin.org
bwin Interactive Entertainment AG
Börsegasse 11
1010 Vienna, Austria
www.bwin.org

http://www.google.com/finance?q=WBAG:BWIN

Officers and directors
Hannes Androsch
Chairman of the Supervisory Board
Manfred Bodner
Member of the Executive Board, Co-Chief Executive Officer
Norbert Teufelberger
Member of the Executive Board, Co-Chief Executive Officer
Alexander Knotek
Deputy Chairman of the Supervisory Board
Helmut Kern
Member of the Supervisory Board
Herbert Schweiger
Member of the Supervisory Board
Georg Riedl
Member of the Supervisory Board
Per Afrell
Member of the Supervisory Board
Address
Boersegasse 11
Vienna, 1010
Austria
+43-50-8580 (Phone)
+43-50-85816 (Fax)
http://www.google-kai.com/bwinparty-share-price-graph-live-bpty-vi-bwin-party-dgtl-entertainment.html
http://www.google.co.uk/finance?q=LON:PRTY

Jim Ryan Group Chief Executive Officer, Group Managing Director, Executive Director
Age: 48
Martin Weigold Group Finance Director, Executive Director
Age: 44
Per Widerstrom Chief Operating Officer

Robert Hoskin Company Secretary

Rod W. Perry Non-Executive Chairman of the Board
Age: 64
Rami Lerner Non-Executive Director
Age: 55
Tim Bristow Independent Non-Executive Director
Age: 54
Stephen J. Box Independent Non-Executive Director
Age: 59
Lord Moonie Senior Independent Non-Executive Director
Age: 63

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Wikileaks? WikiLeaks going to be shut down again? Afghanistan war diary

People are asking “Is WikiLeaks going to be shut down again?” and “Are U.S. troops and others’ lives in danger as a result of the leaked documents?” Those questions are yet to be answered.

There was speculation Monday morning that the government had already shut down WikiLeaks’ website.

While it’s true the WikiLeaks.org website was down most of Monday morning, it was probably due to the high traffic it received after news hit of the confidential U.S. military documents posted Sunday night, not because the government had somehow taken down the site. 

It was back up later in the morning with a link to a separate page entitled “War Diary” with several browse options.

WikiLeaks is a whistle-blowing website that leaks confidential secret governmental and business documents online.

But has it gone too far this time? Your COMMENTS welcome below.

WikiLeaks’ latest action was the posting of some 91,000 classified documents regarding the war in Afghanistan. The question is, has the information posted for the world to see posed a risk to lives? Will it be ordered shut down as it was in 2008?

The Pentagon said Monday it is assessing the damage caused by the leak, and trying to determine if it has “put the lives of Americans and our partners at risk.”

Pakistan dismissed the documents as malicious and unsubstantiated.

The WikiLeaks website was shut down for similar activity in 2008 (scroll down for more information).

Monday’s news – Government needs time to assess the damage

The Pentagon said Monday in an Associated Press report that it is scrambling to assess the damage caused by the newest Internet leak of the 91,000 classified documents on the Afghanistan war.

People are asking, “Will the site be shut down as it was in 2008?” The government has not stated its position as to any closure of the website.

The Associated Press reported Monday that the documents are described as battlefield reports compiled by various military units that provide an unvarnished look at combat in the past six years, including U.S. frustration over reports Pakistan secretly aided insurgents and civilian casualties at the hand of U.S. troops.

The documents were posted on the Internet Sunday night on WikiLeaks.org, a self-described whistleblower organization.

Col. Dave Lapan, a Defense Department spokesman, said the military would probably need “days, if not weeks” to review all the documents and determine “the potential damage to the lives of our service members and coalition partners.”

Did the U.S. government try to stop the leak of information?

The White House says it did not attempt to stop news organizations that had access to secret U.S. military documents from publishing reports about the leak.

It did, however, ask WikiLeaks – through reporters from The New York Times, London’s Guardian newspaper, and the German Weekly Der Spiegel, that were given advanced copies of the documents – to redact information in the documents that could harm U.S. military personnel.

The documents, the Pentagon says, could have come from anyone with a secret-level clearance. The military has detained Bradley Manning, a former Army intelligence analyst in Baghdad for allegedly transmitting classified information.

What is Wikileaks? Why was it shut down in 2008? Why was it shut down in 2010?

WikiLeaks.org shut down in 2008

WikiLeaks.org is a website that invites people to post leaked materials with the goal of discouraging “unethical behavior” by corporations and governments, the New York Times reported in February 2008.

At that time the website posted documents concerning the rules of engagement for American troops in Iraq, a military manual concerning the operation of prison at Guantanamo Bay, Cuba, and other evidence of what it has called corporate waste and wrongdoing.

Subsequently, a federal judge in San Francisco ordered the WikiLeaks.org website be disabled, a major test of First Amendment rights in the Internet era.

WikiLeaks.org maintained “mirror sites” which are copies of itself, usually to insure against outages and this kind of legal action. These sites were registered in countries like Belgium, Germany, and the Christmas Island through domain registrars other than Dynadot and were not affected by the injunction.

The reason for the shutdown was posting of documents purporting to describe offshore activities of a Swiss bank.

The bank, Julius Baer & Co., ordered the shutdown saying WikiLeaks had wrongfully obtained hundreds of confidential bank documents, some of them altered or forged.

In court papers, the bank claimed that “a disgruntled ex-employee who has engaged in a harassment and terror campaign” provided stolen documents to Wikileaks in violation of a confidentiality agreement and banking laws.

The New York Times reported that according to WikiLeaks, “the documents allegedly reveal secrets Julius Baer trust structures used for asset hiding, money laundering, and tax evasion.”

The Judge’s order was criticized as being unconstitutional.

WikiLeaks provided a response to the judge’s order here.

A couple weeks later the judge reversed his decision in part because the information, once placed online, is virtually impossible to remove – web pages are cached, mirrored, and preserved, so those who are Internet savvy can gain access to the documents – and in part because of the criticism his actions drew from numerous organizations concerned that the order violated the First Amendment protection of free speech. More >>

WikiLeaks shut down in 2010

Again the WikiLeaks.org website was shut down in early 2010. This time the reason had nothing to do with judges seeking court orders for leaked documents. It had to do with funding.

WikiLeaks did not receive enough donations to keep the website up and running so it shut it down until such funding could be obtained.

The Guardian reported that the website WikiLeaks was temporarily shut down because of a lack of funds. The report referred to the site as a “major irritant to governments and big businesses since it launched in 2007,” and said it could not keep going without more public donations.

It looks like the company must have received the monies necessary, as it was able to provide over 91,000 documents on its website Sunday night.

The Guardian stated the company, WikiLeaks, was pleading for more cash and that it explained publishing hundreds of thousands of previously secret documents each year costs money.

“If staff are paid, our yearly budget is $600,000 [£372,000],” it said.

The site, which is part of the not-for-profit group Sunshine Press, added: “We have raised just over $130,000 for this year but cannot meaningfully continue operations until costs are covered. These amount to just under $200,000pa.”

The Guardian’s report further stated that WikiLeaks’s appeal for cash prompted widespread support on the web. A Facebook group called Save Wikileaks was formed and there were numerous supportive messages on Twitter.

The report stated that WikiLeaks refuses to accept corporate or government funding for fear of compromising its integrity.

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… for tomorrow ?