SpringOwl to purchase BwinParty stake

ctivist investor is set to buy a 6.1% stake in online gaming firm BwinParty.

SpringOwl Gibraltar have announced plans to make the purchase from divestiture trusts associated with PartyGaming founders Ruth Parasol DeLeon and Russell DeLeon, who last year revealed they were selling their BwinParty stakes rather than submit the individual internet gaming licence applications required for the firm to operate in New Jersey.

SpringOwl will have the right to appoint a director to the board.

Meanwhile BwinParty have debuted their new social sports-betting app Sportster on Facebook in beta test mode.

Created in partnership with developers Nordeus, the freeplay game is expected to officially launch in the coming weeks.