It was just a few days ago that 888 Holdings announced they had come to an agreement with bwin.party to acquire the company for $1.4 billion. It was surprising to find that 888 had won the bid after GVC Holdings and Amaya Gaming had proposed a much higher value proposal to take control of the gaming company. It was reported that 888 was chosen due to the simplicity of the deal and it may have been Amaya’s involvement that caused GVC to be overlooked. Reports now indicate that GVC may still be considering a second deal to try and win bwin.party from 888.
Several reports have been released which state that GVC Holdings may try to propose one more deal to bwin.party, this time without the financial backing of Amaya Gaming. It was rumored that bwin.party did not want to choose GVC as they assumed the company would be broken up after the acquisition. Amaya would have operated the poker brand while GVC would take over the sports betting side of the operations.
According to an article in the Telegraph, GVC is continuing to look at their options and it is understood that the company is considering a proposal of a higher offer without help from Amaya. By themselves, GVC would not have the perceived risk in place and might be considered by Bwin.
However, GVC would most likely have to find a new partner as they might not have the funds to purchase the gambling company. The company is reportedly reviewing the options they have and now ruling anything out.
888 has pushed several factors to Bwin to stay in their favor including having offices in the same area, having licensing in the same countries as well as having a strong offering of poker, casino gaming and sports betting, all around.
It will be interesting to see how this play out, if Bwin will stick with 888 Holdings or if they will be willing to consider GVC without the help of Amaya.
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