MGM Resorts International and Boyd Gaming Corp., preparing for the U.S. to legalize online poker, agreed to form a venture with the biggest listed Internet gambling company, Bwin.Party Digital Entertainment Plc.
Bwin.party digital entertainment Plc , formed this year by the merger of PartyGaming Plc and Bwin Interactive Entertainment AG, said first-quarter net revenue gained 2 percent, led by sports betting and casino games.
Bwin.party digital entertainment Plc fell for a second day after prime ministers representing 15 German states proposed a 16.67 percent tax on sports-betting stakes, a step that one analyst called a “shocking decision.”
PartyGaming Plc plans to acquire Bwin Interactive Entertainment AG in a reverse takeover valued at about 1.13 billion pounds ($1.76 billion) to create the world’s biggest publicly traded online gambling company.
New Jersey Governor Chris Christie ’s proposals to cut pension benefits and raise government workers’ health-insurance payments contributed to a 60 percent jump in retirements in 2010 as more than 20,000 people filed to leave.