Although the sale of the Ongame Network is at an “advanced stage,” it is unlikely to be completed this year, according to a financial update from bwin.party.
Announced to shareholders back in June, bwin.party, the world’s largest publicly-traded online gaming operator, hoped that it would complete the sale of the European network by the end of the year in what it called “[recycling] surplus assets.”
The result of a March 2011 merger, bwin.party currently consists of two poker networks: PartyPoker, and the Ongame Network, a network of over 25 skins including BetFair, Betsson and bwin itself. Prior to the sale, it is expected that players on bwin will be moved to the PartyPoker network.
It also announced that it had applied for licenses in Spain and in Denmark, and expects to be approved for both to enter the two new European regulated markets in 2012.