bwin to Acquire 100% of Italy’s Gioco Digitale

Shares in bwin Interactive Entertainment AG rallied in early trading Monday after the company confirmed that it was in the final stages of acquiring Gioco Digitale, one of Italy's leading online gaming operators.

Gioco Digitale was one of Italy's first online gaming sites, offering poker, bingo and skill games.

"The Board of bwin Interactive Entertainment AG and Gioco Digitale S.p.A. and its shareholders have agreed on principle terms for the acquisition of 100% of Gioco Digitale," said bwin in a statement this morning.

bwin said that they were in the final stages of working on a sales and purchase agreement, although the value of the transaction was not disclosed. The company also stated that although the acquisition was progressing, there could be no certainty that a final binding agreement on the transaction will be reached.

Shares in bwin Interactive Entertainment AG (Co. Profile) (BWIN.VI) gained 3.5% this morning immediately following the announcement to trade at €27.94 per share in Vienna.