High – stakes battle in acquisition for bwin.party take over
20 May 2015
In the gaming business environment today more and more online operators are positioning themselves to be at the forefront of this lucrative industry, however with the extensive markets rising and higher operating taxations in recent time, it requires forward thinking as well.
Such robust innovative leverage surely comes with big online gaming giants such as Amaya, GVC and 888, who has publically affirmed their joint offer bids to comprehensively acquire bwin.party. It’s been reported earlier that gaming operator Amaya will be in line to take over bwin.party’s regulated poker and casino operations, and subsequently GVC the takeover of the sports gaming business unit.
With an extensive operation’s portfolio and proposed transaction in place, it is safe to say that an agreement would need to be unanimously secured by all shareholders to proceed accordingly.
Bwin.party gaming company has confirmed that they have received comprehensive bid proposals and will be reviewed and considered by its board accordingly. Gaming bid operators have advised that there is no real certainty and with bid reviewing in session by bwin.party board, further updates will be announced over the next few weeks.
In a recent statement by bwin.party, they commented saying: “The board of bwin.party has noted the announcement made by 888 Holdings and confirms that it has received a proposal to acquire the entire issued and to be issued share capital of bwin.party. The board and its advisers are conducting a detailed review of the proposals received to-date and will make a further announcement in due course, however there can be no certainty that these proposals will result in a transaction being completed.”
The acquisition of bwin.party will surely mean that the likes of GVC, Amaya and 888 will have control over bwin.party gaming’s propriety betting and gaming platforms and add excessive gain and value rise in the respective markets of gaming and casino gambling. With an extensive revenue portfolio at €237.1 million euros at the end of 2014, makes it an attractive bid, especially with a sports book platform generating such strong numbers to date. Gaming operator GVC has confirmed last week that its bid would be a reverse take over as bwin.party company has a market cap.
The gambling and gaming industry is surely expecting more consolidation after many countries have enforced regulations on online operators.