Bwin.party board in deal with SpringOwl

 
Oliver Smith
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ONLINE gaming company Bwin.party has agreed to let an activist US investment group to take a seat on its board in a compromise deal following weeks of verbal sparring.

The agreement headed off an expected clash at the company’s annual meeting in Gibraltar, where investor SpringOwl, which has a five per cent stake in Bwin.party, had proposed four nominees for board roles.

SpringOwl, founded by former US gaming analyst Jason Ader, said it had nominated Daniel Silvers to take the board place to which it was entitled after buying a stake in the company earlier this year.