The Austrian betting operation, bwin, has announced that it is close to signing a purchase deal with the Italian Gioco Digitale in a bid to expand further into the growing Italian wagering market. Gioco is said to be Italy’s first independent online gaming site and offers players a wide range of products and services, including sports betting, skill games and poker.  Bwin is said to be purchasing 100% of this group which is owned by a conglomerate of shareholders.

Italian legislation currently allows for sports betting and online poker tournaments but a change in the law in the coming months will see games of chance, including poker cash games, being made legal. This is the market that bwin is hoping to enter and expand in, in a bid to grab a good portion of this growing industry. As a result of the announcement that bwin in closing the deal with Gioco Digitale, shares in the Austrian company climbed 0.7% to €27.42.