PartyGaming, bwin in merger talks

LONDON, England -- Online gambling giants bwin and PartyGaming are in merger talks that could create a £2 billion Internet gambling behemoth, according to The Sunday Times.

The two companies have been talking about a merger since the summer. If the deal goes through, it would likely be structured as a merger of equals, the Sunday Times reports.

PartyGaming is known for its portfolio of casino and poker games, while bwin is known for its strength in the sports betting market.

PartyGaming has a market value on the London stock exchange of £1 billion. Bwin's value on the Vienna stock exchange is £1.2 billion.