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SpringOwl Gains Further Control on bwin Board After Advisory Firm Support

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Activist investors SpringOwl are looking likely to gain additional representation on the bwin board, after winning support from independent advisors.

The firm is following up on their gradual revolution of the structure at the Austrian American company after their purchase of 6.1% of the shares in February. Since then, they have added one member to the board, but plans are afoot for 3 more, plans that have met with resistence from the bwin.

The company, who were sold by their owners prior to setting up a new online casino in the US state of New Jersey, has urged shareholders to block the new resolutions as the company worries about its future as an integrated company.

Indeed, one of SpringOwl’s long terms plans could be to break the company up into smaller parts, probably geographically.

A possible return to PartyPoker

One potential move could see the European and US arms of the business separate. While the European business has kept its head above the water in recent times, mainly due to the successes of their online and mobile casinos, US operations – and in particular, poker – have faltered.

One reason for this has been regular changes to gambling laws across the globe. As such, the change in ownership of the company couldn’t have come at a better time, as the new sections after any proposed split would have time to adjust to any changes to European gambling laws after the EU elections.

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