SpringOwl's Jason Ader Outlines The Case For Change At bwin.party

- Urges Shareholders to Vote FOR new Highly-Qualified, Independent Director Candidates at the Company's Upcoming Annual General Meeting

NEW YORK, May 5, 2014 /PRNewswire/ -- SpringOwl today made available (at WWW.SAVEBWINPARTY.COM) its initial presentation highlighting the Case for Change at bwin.party digital entertainment plc (BPTY).  The presentation provides BPTY shareholders with a detailed overview of ways in which SpringOwl believes that the Company's incumbent Board has overseen significant shareholder value destruction (approximately 60% decline in share price since the 2010 announcement of the merger of Bwin Interactive Entertainment AG and PartyGaming plc) due to FAILED EXECUTION, FAILED MERGER and FAILED OVERSIGHT.

The presentation contains information on SpringOwl's plan to reverse this trend as well as the biographies of four new Highly-Qualified Independent Director candidates and how they can help the Board to maximize value to all BPTY shareholders through their collective expertise and backgrounds in Technology, Online and Land-based Gaming, Brand Marketing and Bank Regulation.

Summary highlights of the presentation include:

• Decline of Shareholder Value:  Summaries of reduction in shareholder value suffered by BPTY shareholders as the incumbent Board rewarded Management with stock grants and removed ties to shareholder returns from its incentive plans;
• Underperformance to Peers:  Details of BPTY's substantial underperformance relative to both its peers and relevant stock market indices as well as valuation metrics which SpringOwl believes are indicative of the Company's missteps;
• Deteriorating Performance:  Overview of the deterioration in financial metrics and key performance indicators under the watch of the incumbent Board;
• Flawed Merger Strategy and Integration:  Description of the failure to achieve the key objectives of the merger;
• Flawed Operating Strategy:  Results of the Company's flawed "Volume to Value" strategy which SpringOwl believes has resulted in a negative feedback circle of lower marketing spend and reductions in revenue / high value customers;
• Decline of Poker Party:  Evidence of the decline of BPTY's Party Poker brand under the watch of the incumbent Board; and
• Cost Structure:  Outline of the Company's runaway cost structure and its consequential impact on margins.

Jason N. Ader of SpringOwl commented, "We have received incredible support from the BPTY shareholders we have already spoken with and look forward to more conversations as shareholders have the opportunity to add sorely needed skills to the Board of our company.  We are confident that each of the Highly-Qualified, Independent Director candidates will play a major part in creating value for all BPTY shareholders."

Mr. Ader continued, "While our efforts to work with the incumbent Board towards a constructive solution continue, their lack of action in the face of substantial shareholder losses is frustrating.  We believe that the contents of this presentation clearly outline the case for change at BPTY and call on the Board to immediately institute this needed change by seating the four Highly-Qualified Independent Director candidates."

SpringOwl is today urging shareholders to vote FOR the Highly-Qualified Independent Director candidates set forth in Resolutions 19 through 22 at BPTY's upcoming Annual General Meeting scheduled for May 22, 2014.

Shareholders with questions or who need assistance in voting their shares, should call Lake Isle M&A Incorporated at +44-20-7710-9960 (from the EU); or Innisfree M&A Incorporated, toll-free at +1-888-750-5834 (from the US and Canada) or +1-412-232-3651 (from other countries).  Banks and brokers may call collect at +1-212-750-5833.

The presentation is available at http://savebwinparty.com/presentations

ABOUT SPRINGOWL GIBRALTAR PARTNERS B LTD

SpringOwl Gibraltar Partners B Ltd., the ("Fund"), is a Cayman Islands exempted company formed December 18, 2013.   SpringOwl Associates LLC (the "Investment Manager"), a New York limited liability company which is the Investment Manager to the Fund, commenced operations in 1970, under the name of Cumberland Associates, and is wholly owned and controlled by SpringOwl Asset Management LLC ("SpringOwl"), a Delaware limited liability company founded in 2013.   The principal owners of SpringOwl are Jason N. Ader and Andrew M. Wallach.