Two founders of Bwinparty digital entertainment are to divorce and since the group has applied for a licence to operate an online casino in New Jersey, both parties involved have agreed to put their shares in the company into a trust. Ruth Parasol De Leon and James Russell De Leon both have just over 7 per cent of shares each in Bwinparty so they are to combine these in the trust and the stake of over 14 percent in the company will be sold over the next three years.
The couple came to this agreement with the Division of Gaming Enforcement in New Jersey and in this way nothing should impede Bwinparty’s application for an online gaming licence in the state.In just under three weeks time, internet gambling should finally be legal in New Jersey, which along with Nevada and Delaware are the only states where online casinos are being legalised. Bwinparty has entered a partnership with the Borgata Hotel Casino, owned by MGM Resorts and Boyd Gaming, to operate an online casino since these can only be run in conjunction with one of New Jersey’s twelve land based casinos. Bwinparty made its application for a New Jersey online casino operator’s licence in July 2013 and the Borgata Casino reported that it was granted its online licence by the Division of Gaming Enforcement in October.Since each person holding many shares in a company applying for a gaming licence in New Jersey is required by law to also apply for an individual licence, it is believed that James Russell De Leon and Ruth Parasol De Leon may have come to the agreement to place their shares in a trust on their divorce in order to protect their privacy. Bwin Party Digital Entertainment is the largest stock exchange listed online gambling group in the world. It is based in Gibraltar. Bwin Party was formed in 2011 when Bwin Interactive entertainment and Party Gaming became one. Party Gaming was launched by Ruth Parasol in 1997.
From the 26th of November online gambling will be legal within New Jersey’s borders and Bwinparty hopes to be one of the first to open an online casino.