Jason Ader Activist Investor Taking on Bwin

Submitted by Aaron Goldstein on

Written by :

Aaron Goldstein

Published on :

New York based hedge-fund investor, Jason Ader, well-known t o Gambling911 readers from his earlier victory over IGT was featured in the worldwide media today for his announcement that he intends to propose for election four new independent Directors to the Board of BPTY at the forthcoming Annual General Meeting of BPTY. 

Bwin.Party, which is listed on the London Stock Exchange, is the product of a merger between PartyGaming and Bwin Interactive Entertainment in 2011. It owns a network of poker, casino, betting and bingo websites. Ader’s company, SpringOwl acquired a 5.25 percent stake in Bwin.Party in February from the founders of PartyGaming, Ruth Parasol and Russ DeLeon, who sold their 14.3 percent stake as part of a divorce settlement.

As the NY Times feature explained, “it was only a matter of time before United States activist investors turned their focus to European companies.”

Ader was quoted in The Wall Street Journal as saying he does not believe the company’s CEO Norbert Teufelberger should be replaced, and told him "You are like Roger Federer, I'm not looking to replace you, but you are losing. Think about getting a different trainer, different coach, different racquet."

Related Content

Empty pockets

Slow Pay, No Pay Jazz Sports Still Sending Out Bonus Emails

Despite not paying some customers, Jazz Sports continues to email customers about 100 percent re-up bonuses
Hard Rock Bet jackpots

Hard Rock Bet Casino's Jackpot Tops $1 million in New Jersey

The site promotes $5,000 jackpots daily in the only other state it has an online casino, Michigan.
Online casino

Despite Sweepstakes Casino Ban in New Jersey, NJ.com Continues to Promote Them

NJ.com promotes both New Jersey regulated gambling sites as well as prohibited sweepstakes sites. The Garden State recently made these sites illegal.
Coinbase

New York Sues Coinbase and Gemini Titan, Calls Their Prediction Markets Illegal Gambling

In complaints filed in a state court in Manhattan, Attorney General Letitia James said Coinbase and Gemini failed to obtain New York State Gaming Commission licenses ​to operate their markets, where people trade based on the predicted outcomes of events such as ​sports and elections.