Online gaming powerhouses bwin Interactive Entertainment and PartyGaming have said that their planned merger is going forward and will be completed in the first quarter of 2011.

Speculation in the market that the deal might not go through prompted both companies to release statements of confirmation in early November. The merger was originally announced in July of this year.

Both brands will continue to operate after the merger.

The new company will be headed by current bwin co-CEO Norbert Teufelberger and current PartyGaming CEO Jim Ryan. The two will share the CEO function.

Manfred Bodner, now co-CEO at bwin with Teufelberger, will join the new company’s supervisory board and be in charge of brand integration and strategic sales matters.

By GGB Staff

Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.