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jul
27

GVC Makes New Offer To Buy bwin.party
Tags: 888 holidings, bwin.party, GVC Holdings.
Posted on 27 July 2015 by "T".

GVC Holdings Plc, without the backing of Amaya, has now offered £1 billion (about 1.55 billion US dollars) to bwin.party. According to PokerNews, the Gibraltar-based company has revealed that it has obtained a $440 million loan from Cerberus Capital Management and it is also looking to raise approximately £150 million through an equity placing of new GVC shares for cash.

PokerNews also reported that 888 shares fell 3.7 percent after the news broke of a new offer from GVC. However, GVC stocks only declined by 0.8 percent to 425 pence.

Stay tuned for more details on the battle for bwin.party.

 

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6 comments on "GVC Makes New Offer To Buy bwin.party"


 bowie198426/08/2015 11:49:37 GMT
Another buyout which won't come from their rescources rather than their will to apply for a loan helping to buy something they cannot afford.
Oh, gee - where could I have seen this kinda behaviour?
The battle for bwin-party is not that interesting tbh, especially now - many years after party or bwin lost their relevance to their competitors.
 shokaku26/08/2015 11:58:35 GMT
It isn't about the Party part of the company, where those companies are fighting for. It is the betting business. Bwin is quite a big dog in europe, and both GVC (Sportingbet) and 888 are bookies, too.
 Skpmorita26/08/2015 14:25:20 GMT
this bwin-party stuff is still going on ?
do they wanna sold the company or not ?
just take that 1.5 billion and end all this , 888 and GVC they wanna take out some of the competition and expand their companies .
it is exactly like shokaku , bwin is one of the most successful sport betting bookies
while 888 is struggling right now , they need this purchase ..
 pinotte26/08/2015 14:37:28 GMT
I just wonder how can 888 could make money with all their promotions where they are giving a lot of money every day.

Where are they will be able to find the money to buy BWin it is another deal where the small one is buying thee big one. The same like Amaya bought PS and FT they where a lot smaller and still bought them. Question Question
 klash2326/08/2015 16:48:07 GMT
Sometimes it seems like there is just one big merry go round of gambling firms saying they will buy another gambling competitor.
It was only a few months ago that William Hill said they were going to take over 888,we have had Gala merge with Coral and Gala/ Coral to merge with ladbrokes.....it was only 4 days ago GVC said they would walk away from the BWIN deal.
They could make it quite simple.....if your company has to borrow a billion dollars to buy a company worth 1.5 billion then there is something seriously wrong.
I feel like these hedge funds and the investors just see gamblers as the golden goose but at some point the goose will not have enough gold eggs for everyone,especially now that all governments are wanting a much bigger slice of the pie.
 Tony_MON7ANA27/08/2015 05:33:58 GMT
Online gambling firm GVC Holdings is prepared to further raise its offer for rival Bwin.party Digital Entertainment to at least £1.1bn (€1.6bn, $1.7bn), as it looks to persuade the Bwin board against a counter offer from 888 Holdings.
GVC's new offer is expected to more than match any revised 888 offer, Times reported, citing sources close to the process.
If GVC is able to close the deal, it would turn the firm into one of the world's most innovative online entertainment companies with enhanced presence in both gaming and betting. The combination is expected to produce £95.6m in synergies.

Source: ibtimes

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