Bwin.Party Founders to Sell Shares in Order to Obtain NJ License

Two of the original founders of Party Gaming, Ruth Parasol and her husband Russ DeLeon, have reached an agreement with the New Jersey Gaming Enforcement to sell their shares in Bwin.Party ahead of it being awarded a license to operate in the state.

Two of the founders of Bwin.Party have reached an agreement to sell their shares so the company can receive a New Jersey gaming license.
It is thought that the company will receive a license fairly quickly so that it can provide the Borgata Casino in Atlantic City with online poker and casino software.
The state’s igaming industry is set to launch later this month and authorities will soon be announcing which software providers can join the industry on the go-live date.
An analyst broker at Numis Securities, Ivor Jones, said, “We believe that if this preliminary step is being announced it is more likely that bwin.party will be eligible to start operations in New Jersey in November.”