LONDON (Dow Jones)--PartyGaming PLC (PRTY.LN) Thursday announces the proposed merger of PartyGaming and bwin Interactive Entertainment AG. MAIN FACTS: -Market leading positions in all key verticals of online poker, sports betting, casino and games (in particular bingo) -Pro forma 2009 net gaming revenue of EUR682 million and EBITDA of EUR196 million, before synergies -Estimated annualized synergies of approximately EUR55 million -Enlarged Group to be owned approximately 48.36% and 51.64% by PartyGaming and bwin shareholders respectively and will be listed on the London Stock Exchange -Jim Ryan and Norbert Teufelberger to be Co-Chief Executive Officers of the Enlarged Group -Irrevocable undertakings in support of the Proposed Merger have been received from shareholders currently holding 28.5% and 14.45 of PartyGaming and bwin's existing issued share capital respectively -The Proposed Merger is classified as a reverse takeover for PartyGaming -PartyGaming shares at 1010 GMT up 53.0 pence, or 20.6%, at 310.0 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires July 29, 2010 06:12 ET (10:12 GMT)